Voleon Capital Management LP Invests $1.31 Million in Copart, Inc. (NASDAQ:CPRT)

Voleon Capital Management LP bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 22,903 shares of the business services provider's stock, valued at approximately $1,314,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sandy Spring Bank grew its position in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Copart during the 4th quarter worth $45,000. Curio Wealth LLC purchased a new stake in shares of Copart in the fourth quarter valued at about $52,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Copart during the fourth quarter worth about $54,000. Finally, Eastern Bank boosted its stake in shares of Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock worth $69,000 after buying an additional 640 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Insider Buying and Selling at Copart

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,000 shares of company stock worth $11,401,000. Corporate insiders own 9.68% of the company's stock.

Copart Trading Up 1.2 %

Shares of NASDAQ:CPRT traded up $0.72 during midday trading on Friday, hitting $61.22. The stock had a trading volume of 3,152,111 shares, compared to its average volume of 4,422,009. The company has a market capitalization of $59.14 billion, a PE ratio of 41.09 and a beta of 1.22. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a 50 day moving average price of $56.64 and a two-hundred day moving average price of $57.33.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS 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.