Panoramic Capital Partners LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Panoramic Capital Partners LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,426 shares of the business services provider’s stock, valued at approximately $484,000. Copart accounts for approximately 0.4% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. CWM LLC boosted its holdings in shares of Copart by 12.8% in the third quarter. CWM LLC now owns 34,111 shares of the business services provider’s stock valued at $1,787,000 after acquiring an additional 3,869 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Copart by 209.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,234 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 4,219 shares in the last quarter. Inspire Investing LLC increased its position in shares of Copart by 4.2% during the 3rd quarter. Inspire Investing LLC now owns 22,601 shares of the business services provider’s stock valued at $1,184,000 after purchasing an additional 921 shares during the period. Procyon Advisors LLC boosted its holdings in Copart by 1.5% during the third quarter. Procyon Advisors LLC now owns 44,149 shares of the business services provider’s stock worth $2,313,000 after buying an additional 636 shares in the last quarter. Finally, Empirical Asset Management LLC raised its holdings in Copart by 83.6% during the 3rd quarter. Empirical Asset Management LLC now owns 20,714 shares of the business services provider’s stock worth $1,085,000 after buying an additional 9,432 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

NASDAQ:CPRT opened at $58.63 on Tuesday. The company has a market cap of $56.49 billion, a price-to-earnings ratio of 41.29 and a beta of 1.33. The firm’s 50-day moving average is $58.52 and its 200-day moving average is $55.23. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results 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 net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. Copart’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

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.