Panoramic Capital Partners LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Panoramic Capital Partners LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,426 shares of the business services provider’s stock, valued at approximately $484,000. Copart makes up approximately 0.4% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in Copart in the 4th quarter valued at about $3,962,000. Sanctuary Advisors LLC boosted its holdings in shares of Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after acquiring an additional 9,222 shares during the period. Geode Capital Management LLC grew its position in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Kinsale Capital Group Inc. raised its stake 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 valued at $4,715,000 after purchasing an additional 13,554 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Copart during the 3rd quarter worth about $1,206,000. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $58.63 on Tuesday. The firm has a fifty day moving average price of $58.52 and a two-hundred day moving average price of $55.23. The company has a market cap of $56.49 billion, a price-to-earnings ratio of 41.29 and a beta of 1.33. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The company 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 firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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 shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Copart Company 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.