Benjamin Edwards Inc. Purchases 37,112 Shares of Copart, Inc. (NASDAQ:CPRT)

Benjamin Edwards Inc. increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 3,878.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,069 shares of the business services provider's stock after purchasing an additional 37,112 shares during the period. Benjamin Edwards Inc.'s holdings in Copart were worth $1,995,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kinsale Capital Group Inc. raised its position in shares of Copart by 17.7% during the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock worth $4,715,000 after acquiring an additional 13,554 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Copart in the 2nd quarter valued at $5,418,000. Assenagon Asset Management S.A. raised its position in shares of Copart by 263.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider's stock valued at $35,307,000 after acquiring an additional 472,318 shares during the period. Anthracite Investment Company Inc. bought a new position in Copart during the third quarter worth about $2,358,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Copart by 10.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 132,811 shares of the business services provider's stock worth $7,193,000 after purchasing an additional 12,025 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th.

Copart Stock Up 0.1 %

Shares of NASDAQ:CPRT traded up $0.09 during midday trading on Friday, hitting $62.00. The stock had a trading volume of 1,158,800 shares, compared to its average volume of 4,445,917. The business's 50-day simple moving average is $55.87 and its 200-day simple moving average is $53.72. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The company has a market cap of $59.74 billion, a P/E ratio of 43.55 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.37. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.68% of the company's stock.

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.