International Assets Investment Management LLC Invests $3.29 Million in Copart, Inc. (NASDAQ:CPRT)

International Assets Investment Management LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 67,032 shares of the business services provider's stock, valued at approximately $3,285,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Copart in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC purchased a new position in shares of Copart in the second quarter valued at approximately $38,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Copart in the second quarter valued at approximately $38,000. Hollencrest Capital Management lifted its position in shares of Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider's stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in shares of Copart in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CPRT. JPMorgan Chase & Co. raised their target price on Copart from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. StockNews.com cut Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $51.00.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company's stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company's stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock valued at $55,519,950 over the last quarter. 10.23% of the stock is owned by insiders.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.82 during midday trading on Thursday, hitting $53.20. The company had a trading volume of 3,489,631 shares, compared to its average volume of 4,624,356. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The stock has a market cap of $51.15 billion, a price-to-earnings ratio of 38.27 and a beta of 1.22. The business's 50-day simple moving average is $54.31 and its 200-day simple moving average is $49.98.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. Copart's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.42 EPS for the current year.

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.