Asset Management One Co. Ltd. Buys 29,213 Shares of Copart, Inc. (NASDAQ:CPRT)

Asset Management One Co. Ltd. raised its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,904 shares of the business services provider's stock after buying an additional 29,213 shares during the period. Asset Management One Co. Ltd.'s holdings in Copart were worth $25,630,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sandy Spring Bank lifted its holdings 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 purchasing an additional 176 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Copart during the fourth quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Copart during the fourth quarter worth $45,000. Versant Capital Management Inc lifted its holdings in shares of Copart by 1,567.9% during the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares during the period. Finally, Curio Wealth LLC acquired a new position in shares of Copart during the fourth quarter worth $52,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.68% of the stock is owned by company insiders.

Copart Trading Up 0.2%

CPRT stock traded up $0.10 during midday trading on Thursday, hitting $48.24. The stock had a trading volume of 7,101,511 shares, compared to its average volume of 4,903,801. The firm has a market cap of $46.65 billion, a P/E ratio of 31.74 and a beta of 1.10. Copart, Inc. has a 1-year low of $47.33 and a 1-year high of $64.38. The business has a fifty day moving average price of $55.88 and a two-hundred day moving average price of $56.70.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. Copart's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPRT. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

About Copart

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.