Quantinno Capital Management LP Boosts Position in Copart, Inc. (NASDAQ:CPRT)

Quantinno Capital Management LP increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 96.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,544 shares of the business services provider’s stock after acquiring an additional 45,880 shares during the quarter. Quantinno Capital Management LP’s holdings in Copart were worth $4,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CPRT. Kinsale Capital Group Inc. lifted its position in shares of Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 13,554 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Copart during the 2nd quarter valued at approximately $5,418,000. Assenagon Asset Management S.A. boosted its position in Copart by 263.0% during 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 in the last quarter. Anthracite Investment Company Inc. purchased a new position in shares of Copart during the 3rd quarter worth approximately $2,358,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Copart by 10.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 132,811 shares of the business services provider’s stock worth $7,193,000 after acquiring an additional 12,025 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $62.08 on Friday. The firm has a 50 day moving average price of $56.07 and a 200-day moving average price of $53.76. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The firm has a market capitalization of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly 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. 9.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CPRT. JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart 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.