Assenagon Asset Management S.A. Purchases 3,016,795 Shares of Copart, Inc. (NASDAQ:CPRT)

Assenagon Asset Management S.A. raised its stake in Copart, Inc. (NASDAQ:CPRT) by 462.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,668,696 shares of the business services provider’s stock after acquiring an additional 3,016,795 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Copart were worth $192,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors lifted its stake in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in Copart in the 3rd quarter worth approximately $29,000. Pinnacle Bancorp Inc. lifted its stake in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Crewe Advisors LLC lifted its stake in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Trading Up 0.1 %

Shares of NASDAQ:CPRT traded up $0.07 during trading on Thursday, reaching $51.43. The company had a trading volume of 848,120 shares, compared to its average volume of 4,469,073. The company has a fifty day moving average of $52.29 and a two-hundred day moving average of $53.19. The stock has a market capitalization of $49.49 billion, a P/E ratio of 36.17 and a beta of 1.27. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $0.34 EPS. Copart’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.54 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.