Corton Capital Inc. Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Corton Capital Inc. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,587 shares of the business services provider's stock, valued at approximately $321,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Copart by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after buying an additional 976,909 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Capital World Investors grew its stake in shares of Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

NASDAQ:CPRT traded down $0.26 during mid-day trading on Friday, hitting $61.52. The company had a trading volume of 2,553,665 shares, compared to its average volume of 4,415,845. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $59.43 billion, a P/E ratio of 41.29 and a beta of 1.20. The business's fifty day moving average is $57.26 and its two-hundred day moving average is $57.63.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated 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. Insiders have sold 200,000 shares of company stock worth $11,401,000 in the last 90 days. Corporate insiders own 9.68% of the company's stock.

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.