Allen Capital Group LLC Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Allen Capital Group LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 29.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,006 shares of the business services provider’s stock after buying an additional 1,610 shares during the quarter. Allen Capital Group LLC’s holdings in Copart were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Optimum Investment Advisors raised its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank purchased a new position in shares of Copart in the 3rd quarter worth $29,000. Quarry LP purchased a new position in shares of Copart in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Copart in the 3rd quarter worth $33,000. Finally, True Wealth Design LLC raised its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Stock Up 0.0 %

Shares of NASDAQ CPRT opened at $57.32 on Thursday. The firm’s 50-day moving average price is $59.18 and its two-hundred day moving average price is $54.88. Copart, Inc. has a 52-week low of $47.92 and a 52-week high of $64.38. The stock has a market capitalization of $55.23 billion, a P/E ratio of 40.37 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The firm 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 revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. As a group, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the business’s 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 completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business’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 value of $13,384,683.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. Company 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.