PineStone Asset Management Inc. Has $347.29 Million Holdings in Copart, Inc. $CPRT

PineStone Asset Management Inc. raised its stake in Copart, Inc. (NASDAQ:CPRT) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,722,652 shares of the business services provider’s stock after buying an additional 1,315,181 shares during the quarter. Copart accounts for about 2.2% of PineStone Asset Management Inc.’s portfolio, making the stock its 15th largest position. PineStone Asset Management Inc. owned approximately 0.80% of Copart worth $347,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Copart by 1.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock worth $712,000 after buying an additional 220 shares during the period. WPG Advisers LLC bought a new position in Copart in the first quarter valued at approximately $138,000. Canada Pension Plan Investment Board increased its position in shares of Copart by 105.7% during the first quarter. Canada Pension Plan Investment Board now owns 910,250 shares of the business services provider’s stock worth $51,511,000 after acquiring an additional 467,686 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in Copart by 158.9% in the 1st quarter. Vident Advisory LLC now owns 90,915 shares of the business services provider’s stock valued at $5,145,000 after acquiring an additional 55,794 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $39.30 on Friday. The firm has a market cap of $38.04 billion, a P/E ratio of 23.96 and a beta of 1.12. Copart, Inc. has a 52 week low of $38.18 and a 52 week high of $63.85. The firm’s 50-day simple moving average is $40.70 and its 200 day simple moving average is $44.80.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird reduced their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.