Main Management ETF Advisors LLC Invests $895,000 in Copart, Inc. (NASDAQ:CPRT)

Main Management ETF Advisors LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, Holdings Channel.com reports. The fund purchased 17,072 shares of the business services provider’s stock, valued at approximately $895,000.

Other institutional investors also recently modified their holdings of the company. Kinsale Capital Group Inc. raised its holdings in shares of Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after buying an additional 13,554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Copart in the 2nd quarter worth about $5,418,000. Assenagon Asset Management S.A. increased its holdings in Copart by 263.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock worth $35,307,000 after purchasing an additional 472,318 shares in the last quarter. Anthracite Investment Company Inc. acquired a new position in Copart in the 3rd quarter worth about $2,358,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Copart by 10.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 132,811 shares of the business services provider’s stock valued at $7,193,000 after buying an additional 12,025 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $62.08 on Friday. The business’s 50 day simple moving average is $56.07 and its two-hundred day simple moving average is $53.77. The firm has a market cap of $59.82 billion, a P/E ratio of 43.72 and a beta of 1.31. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly 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. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

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.