MGO One Seven LLC Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

MGO One Seven LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,821 shares of the business services provider's stock after purchasing an additional 4,271 shares during the quarter. MGO One Seven LLC's holdings in Copart were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Sandy Spring Bank raised its position in Copart by 59.5% in 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. Curio Wealth LLC purchased a new stake in Copart during the 4th quarter valued at about $52,000. Retirement Wealth Solutions LLC purchased a new position in Copart in the 4th quarter worth approximately $54,000. Eastern Bank lifted its position in Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after purchasing an additional 640 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Copart during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analysts Set New Price Targets

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Copart Price Performance

CPRT stock traded up $0.52 during trading on Wednesday, hitting $61.03. 4,202,900 shares of the stock traded hands, compared to its average volume of 4,420,898. The firm's 50 day moving average is $56.39 and its two-hundred day moving average is $57.20. The stock has a market cap of $58.96 billion, a price-to-earnings ratio of 40.96 and a beta of 1.22. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

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

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of the business'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 filing with the SEC, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 over the last quarter. 9.68% of the stock is currently owned by corporate insiders.

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.