Franklin Resources Inc. Acquires 1,590,706 Shares of Copart, Inc. (NASDAQ:CPRT)

Franklin Resources Inc. raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 58.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,296,060 shares of the business services provider's stock after purchasing an additional 1,590,706 shares during the period. Franklin Resources Inc. owned 0.45% of Copart worth $246,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Sandy Spring Bank increased its stake in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares in the last quarter. Quarry LP bought a new position in shares of Copart in the third quarter worth about $29,000. Curio Wealth LLC purchased a new stake in shares of Copart during the fourth quarter worth about $52,000. Continuum Advisory LLC raised its stake in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock valued at $55,000 after purchasing an additional 452 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Copart in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Down 3.8 %

CPRT stock traded down $2.13 during mid-day trading on Friday, hitting $54.51. The company had a trading volume of 8,771,270 shares, compared to its average volume of 4,308,382. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. The company has a 50-day moving average price of $56.23 and a 200 day moving average price of $56.42. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Remove Ads

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

Separately, Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insider Activity

In other news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. 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.