Headlands Technologies LLC Has $1.76 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Headlands Technologies LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 56.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,591 shares of the business services provider’s stock after purchasing an additional 11,095 shares during the quarter. Headlands Technologies LLC’s holdings in Copart were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Geode Capital Management LLC raised its holdings in shares of Copart by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after acquiring an additional 408,677 shares in the last quarter. Roundview Capital LLC raised its stake in shares of Copart by 2.5% during the 4th quarter. Roundview Capital LLC now owns 136,199 shares of the business services provider’s stock worth $7,816,000 after purchasing an additional 3,311 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after buying an additional 175 shares in the last quarter. Franklin Resources Inc. increased its holdings in Copart by 58.8% in the fourth quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider’s stock worth $246,551,000 after buying an additional 1,590,706 shares during the last quarter. Finally, Summit Financial LLC raised its position in Copart by 9.9% during the fourth quarter. Summit Financial LLC now owns 5,481 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 492 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 1.1 %

Shares of Copart stock opened at $57.21 on Wednesday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm has a fifty day simple moving average of $56.32 and a 200-day simple moving average of $56.33. The stock has a market capitalization of $55.27 billion, a price-to-earnings ratio of 38.40 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company 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, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock valued at $21,667,683 in the last three months. Company insiders own 9.68% of the company’s stock.

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.