Machina Capital S.A.S. Invests $1.49 Million in Copart, Inc. $CPRT

Machina Capital S.A.S. purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the second quarter, HoldingsChannel.com reports. The fund purchased 30,440 shares of the business services provider’s stock, valued at approximately $1,494,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after purchasing an additional 2,106,656 shares in the last quarter. Invesco Ltd. boosted its position in shares of Copart by 7.5% in the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock worth $537,052,000 after purchasing an additional 658,329 shares in the last quarter. Amundi raised its holdings in Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Copart by 0.7% in the 1st quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider’s stock worth $505,188,000 after acquiring an additional 61,855 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. Additional details regarding this sale are available in the official SEC disclosure. 9.68% of the stock is currently owned by insiders.

Copart Trading Down 0.0%

Shares of CPRT opened at $43.00 on Tuesday. The firm has a market cap of $41.62 billion, a PE ratio of 26.88 and a beta of 1.03. The firm has a fifty day simple moving average of $45.82 and a two-hundred day simple moving average of $49.69. Copart, Inc. has a 1-year low of $41.96 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CPRT shares. Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Robert W. Baird decreased their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.