China Universal Asset Management Co. Ltd. Purchases 3,475 Shares of Copart, Inc. (NASDAQ:CPRT)

China Universal Asset Management Co. Ltd. raised its position in Copart, Inc. (NASDAQ:CPRT) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,681 shares of the business services provider’s stock after buying an additional 3,475 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Copart were worth $900,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Optimum Investment Advisors raised its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank acquired a new position in shares of Copart during the 3rd quarter worth $29,000. Quarry LP bought a new stake in shares of Copart during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter valued at about $33,000. Finally, True Wealth Design LLC grew its position in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Copart stock opened at $57.93 on Friday. The business has a 50 day moving average of $59.11 and a 200-day moving average of $54.93. Copart, Inc. has a 1 year low of $47.92 and a 1 year high of $64.38. The company has a market capitalization of $55.82 billion, a P/E ratio of 40.80 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released 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. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is currently owned by company insiders.

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.