Smart Money Group LLC Buys 815 Shares of Copart, Inc. (NASDAQ:CPRT)

Smart Money Group LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,580 shares of the business services provider’s stock after acquiring an additional 815 shares during the quarter. Smart Money Group LLC’s holdings in Copart were worth $665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart in the third quarter worth $29,000. Quarry LP bought a new position in Copart in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Copart during the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC raised its stake in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $56.90 on Monday. Copart, Inc. has a fifty-two week low of $47.51 and a fifty-two week high of $64.38. The business has a 50-day moving average of $59.07 and a 200 day moving average of $54.72. The firm has a market cap of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

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.