Copart, Inc. (NASDAQ:CPRT) Stock Position Lifted by Freedom Day Solutions LLC

Freedom Day Solutions LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,333 shares of the business services provider’s stock after purchasing an additional 3,775 shares during the period. Copart comprises approximately 1.0% of Freedom Day Solutions LLC’s holdings, making the stock its 22nd largest position. Freedom Day Solutions LLC’s holdings in Copart were worth $3,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. lifted its stake in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. lifted its stake in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after acquiring an additional 1,390,146 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its stake in Copart by 192.4% in the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock valued at $90,986,000 after acquiring an additional 1,043,200 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by insiders.

Copart Trading Up 0.3 %

Shares of Copart stock opened at $59.74 on Thursday. The firm has a fifty day simple moving average of $58.14 and a 200-day simple moving average of $55.59. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The stock has a market capitalization of $57.56 billion, a price-to-earnings ratio of 42.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.34 earnings per share. Copart’s revenue for the quarter 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 year.

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.