Allianz SE Acquires Shares of 49,180 Copart, Inc. (NASDAQ:CPRT)

Allianz SE bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel reports. The firm bought 49,180 shares of the business services provider’s stock, valued at approximately $2,859,000.

Several other large investors also recently modified their holdings of CPRT. Sandy Spring Bank boosted its stake in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Lindbrook Capital LLC boosted its position in Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 184 shares in the last quarter. Everpar Advisors LLC grew its holdings in shares of Copart by 4.3% during the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Copart by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after acquiring an additional 200 shares in the last quarter. Finally, Simmons Bank lifted its stake in shares of Copart by 4.4% in the 4th quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 200 shares during the period. 85.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,480 shares of company stock valued at $21,667,683. Insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Stock Performance

Shares of CPRT opened at $55.15 on Friday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm’s 50-day simple moving average is $56.33 and its two-hundred day simple moving average is $56.19. The stock has a market cap of $53.28 billion, a PE ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 EPS 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.