J2 Capital Management Inc Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

J2 Capital Management Inc purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,544 shares of the business services provider’s stock, valued at approximately $376,000.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Copart by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,381 shares of the business services provider’s stock valued at $126,012,000 after purchasing an additional 87,718 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Copart by 1.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 51,662 shares of the business services provider’s stock valued at $2,798,000 after buying an additional 576 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Copart by 13.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,871 shares of the business services provider’s stock valued at $751,000 after buying an additional 1,691 shares during the period. Brighton Jones LLC raised its stake in Copart by 4.6% in the second quarter. Brighton Jones LLC now owns 9,657 shares of the business services provider’s stock worth $523,000 after buying an additional 421 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in Copart by 9.9% during the second quarter. Ieq Capital LLC now owns 90,541 shares of the business services provider’s stock worth $4,904,000 after buying an additional 8,155 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.9 %

Shares of CPRT opened at $56.90 on Friday. The company has a 50 day moving average of $59.07 and a two-hundred day moving average of $54.71. Copart, Inc. has a twelve month low of $47.51 and a twelve month high of $64.38. The company has a market cap of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Copart

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.