Park Avenue Securities LLC Grows Stock Position in Copart, Inc. (NASDAQ:CPRT)

Park Avenue Securities LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,315 shares of the business services provider's stock after purchasing an additional 6,734 shares during the period. Park Avenue Securities LLC's holdings in Copart were worth $2,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Kieckhefer Group LLC purchased a new stake in Copart in the fourth quarter worth $3,962,000. Sanctuary Advisors LLC increased its stake in Copart by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock worth $2,765,000 after buying an additional 9,222 shares during the period. Geode Capital Management LLC lifted its holdings in Copart by 1.6% during the 3rd 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 in the last quarter. Kinsale Capital Group Inc. boosted its position in Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock valued at $4,715,000 after buying an additional 13,554 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Copart in the 2nd quarter worth about $5,418,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction 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 approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares of the company's stock, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 over the last ninety days. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted 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 Trading Up 0.9 %

Shares of Copart stock opened at $56.90 on Friday. The stock's fifty day moving average price is $59.07 and its 200-day moving average price is $54.71. The firm has a market cap of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a 12 month low of $47.51 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts' consensus estimates 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 last year, the firm posted $0.34 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. Analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.