Smart Money Group LLC Purchases 815 Shares of Copart, Inc. (NASDAQ:CPRT)

Smart Money Group LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,580 shares of the business services provider’s stock after acquiring an additional 815 shares during the period. Smart Money Group LLC’s holdings in Copart were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp increased its stake in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC raised its position in shares of Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $979,547,000 after acquiring an additional 291,580 shares during the period. Finally, Legal & General Group Plc increased its position in Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $56.90 on Monday. Copart, Inc. has a 1 year low of $47.51 and a 1 year high of $64.38. The business’s 50-day moving average is $59.07 and its 200-day moving average is $54.72. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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 firm had revenue of $1.15 billion for 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 company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 over the last ninety days. 9.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About Copart

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.