Empowered Funds LLC Buys 20,376 Shares of Copart, Inc. (NASDAQ:CPRT)

Empowered Funds LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 31.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,445 shares of the business services provider’s stock after purchasing an additional 20,376 shares during the period. Empowered Funds LLC’s holdings in Copart were worth $4,846,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPRT. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the third 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 bought a new stake in shares of Copart during the third quarter valued at approximately $29,000. Quarry LP purchased a new position in Copart in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Copart in the 3rd quarter valued at approximately $33,000. Finally, True Wealth Design LLC boosted its stake 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 purchasing an additional 608 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of the business’s 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 $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Copart Stock Up 1.0 %

CPRT opened at $59.23 on Wednesday. The stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33. The firm has a 50 day moving average price of $58.46 and a 200-day moving average price of $55.29. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current 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.