Generali Asset Management SPA SGR Takes $7.07 Million Position in Copart, Inc. (NASDAQ:CPRT)

Generali Asset Management SPA SGR acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 123,201 shares of the business services provider’s stock, valued at approximately $7,071,000.

Several other hedge funds have also modified their holdings of CPRT. Quarry LP acquired a new stake in shares of Copart in the third quarter valued at $29,000. True Wealth Design LLC raised its stake in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of Copart in the fourth quarter valued at $52,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the fourth quarter valued at $54,000. Finally, Continuum Advisory LLC raised its stake in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Copart stock opened at $52.92 on Wednesday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The stock has a market cap of $51.13 billion, a PE ratio of 35.52 and a beta of 1.30. The stock’s fifty day moving average is $56.58 and its two-hundred day moving average is $56.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for 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%. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated 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 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.