Copart, Inc. (NASDAQ:CPRT) Shares Acquired by PineStone Asset Management Inc.

PineStone Asset Management Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 192.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,585,400 shares of the business services provider's stock after purchasing an additional 1,043,200 shares during the quarter. Copart makes up 0.9% of PineStone Asset Management Inc.'s holdings, making the stock its 29th biggest position. PineStone Asset Management Inc. owned about 0.16% of Copart worth $90,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CPRT. Jensen Investment Management Inc. grew its position in shares of 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 valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. boosted its position in Copart by 462.8% during 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 acquiring an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. boosted its position in Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. boosted its position in Copart by 706.6% during 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 acquiring an additional 1,390,146 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Copart by 1,103.1% during 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 acquiring an additional 974,585 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The shares were 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. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company's stock.

Analyst Ratings Changes

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

Copart Trading Up 0.3 %

CPRT traded up $0.15 during trading hours on Wednesday, hitting $59.74. 3,637,497 shares of the company's stock were exchanged, compared to its average volume of 3,311,460. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a 50 day moving average of $58.14 and a 200 day moving average of $55.59. The firm has a market cap of $57.56 billion, a P/E ratio of 42.07 and a beta of 1.33.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The firm's revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal 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.