ABLE Financial Group LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

ABLE Financial Group LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,504 shares of the business services provider’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Copart by 1,212.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after acquiring an additional 2,873 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Copart by 14.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after acquiring an additional 1,079 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Copart by 52.1% during the 1st quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after acquiring an additional 3,707 shares during the last quarter. National Pension Service boosted its position in shares of Copart by 5.0% during the 1st quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after acquiring an additional 13,666 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Copart by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after acquiring an additional 270,867 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 100,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 over the last three months. Company insiders own 10.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Copart in a research report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price target on the stock. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.00.

Copart Price Performance

NASDAQ CPRT opened at $56.55 on Friday. The stock has a market capitalization of $54.37 billion, a P/E ratio of 40.68 and a beta of 1.22. Copart, Inc. has a 12 month low of $36.78 and a 12 month high of $58.58. The firm’s 50-day moving average is $53.31 and its two-hundred day moving average is $49.24.

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

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.