Point72 Hong Kong Ltd Invests $1.52 Million in Copart, Inc. (NASDAQ:CPRT)

Point72 Hong Kong Ltd acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,556 shares of the business services provider's stock, valued at approximately $1,524,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC boosted its position in Copart by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock worth $577,000 after acquiring an additional 175 shares during the last quarter. Sandy Spring Bank raised its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the period. Lindbrook Capital LLC boosted its position in shares of Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock worth $345,000 after purchasing an additional 184 shares during the period. Everpar Advisors LLC grew its stake in shares of Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider's stock valued at $276,000 after buying an additional 199 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Copart by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 200 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The stock was 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. Over the last quarter, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by corporate insiders.

Copart Stock Down 0.6%

Copart stock traded down $0.41 during midday trading on Monday, reaching $63.43. The company's stock had a trading volume of 5,970,005 shares, compared to its average volume of 4,407,312. The business has a 50-day simple moving average of $58.19 and a 200-day simple moving average of $58.05. The company has a market cap of $61.28 billion, a P/E ratio of 42.57 and a beta of 1.20. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business 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%. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share 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.