ABC Arbitrage SA Buys New Shares in Copart, Inc. (NASDAQ:CPRT)

ABC Arbitrage SA bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The firm bought 20,013 shares of the business services provider’s stock, valued at approximately $1,149,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Optimum Investment Advisors lifted its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart during the third quarter valued at $29,000. Quarry LP purchased a new position in shares of Copart in the third quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Copart in the third quarter valued at about $33,000. Finally, True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.7 %

Shares of Copart stock opened at $59.39 on Friday. The stock’s 50-day simple moving average is $58.29 and its 200-day simple moving average is $55.43. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share 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 dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was 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 three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Copart 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.