Allianz SE Acquires Shares of 49,180 Copart, Inc. (NASDAQ:CPRT)

Allianz SE bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 49,180 shares of the business services provider’s stock, valued at approximately $2,859,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Principal Financial Group Inc. lifted its position in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in Copart by 106.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock worth $503,000 after purchasing an additional 4,951 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Copart by 13.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,277 shares of the business services provider’s stock worth $9,866,000 after purchasing an additional 22,592 shares during the period. Public Sector Pension Investment Board grew its holdings in Copart by 12.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock valued at $2,061,000 after buying an additional 4,500 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Copart during the third quarter valued at about $761,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $55.15 on Friday. The firm has a market capitalization of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30. The stock has a fifty day moving average of $56.33 and a 200 day moving average of $56.19. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

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

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold 385,480 shares of company stock worth $21,667,683 in the last quarter. 9.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.