Copart, Inc. (NASDAQ:CPRT) Shares Bought by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 182,480 shares of the business services provider's stock after buying an additional 7,260 shares during the quarter. Copart makes up about 7.7% of Peregrine Investment Management Inc.'s holdings, making the stock its biggest position. Peregrine Investment Management Inc.'s holdings in Copart were worth $10,327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sandy Spring Bank lifted its stake in shares of Copart by 59.5% during the 4th 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. Cloud Capital Management LLC purchased a new position in shares of Copart during the 1st quarter worth $26,000. Sunbelt Securities Inc. purchased a new position in shares of Copart during the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Copart during the 4th quarter worth $45,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Copart by 51.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock worth $51,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT traded down $0.53 during trading hours on Friday, hitting $47.46. The stock had a trading volume of 5,070,408 shares, compared to its average volume of 4,925,890. The firm has a market cap of $45.89 billion, a P/E ratio of 31.22 and a beta of 1.07. The company's fifty day simple moving average is $53.03 and its 200 day simple moving average is $55.71. Copart, Inc. has a 12-month low of $47.33 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $0.39 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Stephens started coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price on the stock.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.68% of the stock is owned by company insiders.

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.