ABC Arbitrage SA Invests $1.15 Million in Copart, Inc. (NASDAQ:CPRT)

ABC Arbitrage SA bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 added to or reduced their stakes in the company. Optimum Investment Advisors increased its position in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart during the 3rd quarter valued at approximately $29,000. Quarry LP bought a new position in Copart during the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Copart during the 3rd quarter valued at approximately $33,000. Finally, True Wealth Design LLC increased its position in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised 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.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on 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. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Trading Down 0.7 %

Copart stock opened at $59.39 on Friday. The firm has a market cap of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33. The stock has a fifty day simple moving average of $58.29 and a two-hundred day simple moving average of $55.43. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion during 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.