OFI Invest Asset Management Invests $2.83 Million in Copart, Inc. (NASDAQ:CPRT)

OFI Invest Asset Management bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, HoldingsChannel reports. The firm bought 50,979 shares of the business services provider’s stock, valued at approximately $2,825,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Copart during the third quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the 3rd quarter worth approximately $33,000. True Wealth Design LLC raised its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Copart during the 4th quarter valued at approximately $54,000. Finally, Continuum Advisory LLC grew its position in shares of Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock worth $18,007,983 over the last 90 days. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Copart stock opened at $53.74 on Friday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a 50-day simple moving average of $57.16 and a 200-day simple moving average of $55.98. The firm has a market capitalization of $51.92 billion, a P/E ratio of 36.07 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its earnings results 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 firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a 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.