4,072 Shares in Copart, Inc. (NASDAQ:CPRT) Purchased by Avalon Capital Management

Avalon Capital Management bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,072 shares of the business services provider’s stock, valued at approximately $234,000.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Jensen Investment Management Inc. raised its position in Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. boosted its stake in shares of Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the period. Finally, PineStone Asset Management Inc. grew its position in shares of Copart by 192.4% during the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock worth $90,986,000 after buying an additional 1,043,200 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $56.75 on Tuesday. The stock’s fifty day moving average is $57.89 and its two-hundred day moving average is $55.78. The stock has a market cap of $54.68 billion, a PE ratio of 38.09 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 398,790 shares of company stock worth $23,161,540 in the last 90 days. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.