Caxton Associates LLP Makes New $2.43 Million Investment in Copart, Inc. $CPRT

Key Points

• Caxton Associates LLP has made a new investment in Copart, Inc. worth approximately $2.43 million, acquiring 42,995 shares in the first quarter.
• Several institutional investors, including Nuveen LLC and Vanguard Group, significantly increased their stakes in Copart during the same period, with institutional ownership now at 85.78%.
• Copart reported earnings of $0.41 per share for the last quarter, beating consensus estimates, along with a revenue of $1.13 billion, reflecting a year-over-year increase of 2.9%.

Caxton Associates LLP bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 42,995 shares of the business services provider's stock, valued at approximately $2,433,000.

Several other institutional investors have also recently made changes to their positions in CPRT. Nuveen LLC bought a new stake in shares of Copart in the 1st quarter worth $267,723,000. Fiera Capital Corp grew its stake in shares of Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. Amundi grew its stake in shares of Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after acquiring an additional 2,106,656 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.4%

Shares of NASDAQ:CPRT opened at $48.75 on Tuesday. The firm has a market capitalization of $47.14 billion, a PE ratio of 30.47 and a beta of 1.03. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The company has a 50-day moving average price of $47.46 and a two-hundred day moving average price of $52.67.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPRT. Robert W. Baird reduced their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a report on Thursday. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Copart presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.