Avestar Capital LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Avestar Capital LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,207 shares of the business services provider’s stock after buying an additional 533 shares during the quarter. Avestar Capital LLC’s holdings in Copart were worth $1,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Principal Financial Group Inc. lifted its stake in Copart by 2.5% in the 3rd 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 in the last quarter. State Street Corp increased its holdings 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 worth $1,789,877,000 after purchasing an additional 120,939 shares during the last quarter. Edgewood Management LLC lifted its position in shares of Copart by 0.6% in 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 buying an additional 125,220 shares in the last quarter. Geode Capital Management LLC boosted its stake in Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares during the last quarter. Finally, Barclays PLC grew its holdings in Copart by 0.4% during the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after buying an additional 21,710 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.4 %

Shares of CPRT opened at $59.02 on Thursday. The business has a fifty day moving average of $58.38 and a 200 day moving average of $55.32. The company has a market cap of $56.87 billion, a PE ratio of 41.56 and a beta of 1.33. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insiders Place Their Bets

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 over the last 90 days. Insiders own 9.68% of the company’s stock.

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.