GF Fund Management CO. LTD. Makes New $10.48 Million Investment in Copart, Inc. (NASDAQ:CPRT)

GF Fund Management CO. LTD. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 182,610 shares of the business services provider's stock, valued at approximately $10,480,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after acquiring an additional 976,909 shares during the period. Edgewood Management LLC increased its stake in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares during the period. Capital World Investors increased its stake in Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after acquiring an additional 169,354 shares during the period. Bank of New York Mellon Corp increased its stake in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC increased its stake in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after acquiring an additional 408,677 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Stock Down 1.6%

Shares of CPRT stock traded down $0.85 during trading hours on Tuesday, reaching $52.82. The company's stock had a trading volume of 14,140,059 shares, compared to its average volume of 4,557,685. The firm's 50 day simple moving average is $58.90 and its 200-day simple moving average is $58.26. The company has a market capitalization of $51.03 billion, a price-to-earnings ratio of 35.45 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, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock valued at $11,401,000 in the last 90 days. 9.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of recent research reports. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday.

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.