Baader Bank Aktiengesellschaft Has $1.87 Million Position in Copart, Inc. (NASDAQ:CPRT)

Baader Bank Aktiengesellschaft cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,660 shares of the business services provider's stock after selling 4,825 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Copart were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Jensen Investment Management Inc. boosted its holdings in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider's stock worth $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider's stock worth $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider's stock worth $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Copart by 1,103.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider's stock worth $55,698,000 after purchasing an additional 974,585 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

Copart Stock Up 1.8 %

CPRT stock traded up $1.04 during mid-day trading on Thursday, reaching $58.36. 1,022,908 shares of the stock traded hands, compared to its average volume of 3,328,168. Copart, Inc. has a 52 week low of $47.92 and a 52 week high of $64.38. The business has a 50-day moving average of $59.18 and a two-hundred day moving average of $54.88. The firm has a market capitalization of $56.23 billion, a PE ratio of 41.07 and a beta of 1.33.

Copart (NASDAQ:CPRT - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares of the company's stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm'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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock worth $39,199,813. Company insiders own 9.68% of the company's stock.

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.