AXS Investments LLC Reduces Position in Copart, Inc. (NASDAQ:CPRT)

AXS Investments LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,664 shares of the business services provider’s stock after selling 1,417 shares during the quarter. AXS Investments LLC’s holdings in Copart were worth $915,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Commerce Bank grew its stake in Copart by 0.4% in the fourth quarter. Commerce Bank now owns 678,312 shares of the business services provider’s stock worth $33,237,000 after purchasing an additional 2,476 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Copart by 8.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 43,931 shares of the business services provider’s stock valued at $2,153,000 after acquiring an additional 3,241 shares during the period. Dai ichi Life Insurance Company Ltd boosted its stake in Copart by 7.1% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 57,792 shares of the business services provider’s stock valued at $2,832,000 after acquiring an additional 3,850 shares during the period. Aigen Investment Management LP boosted its stake in Copart by 83.9% in the fourth quarter. Aigen Investment Management LP now owns 15,851 shares of the business services provider’s stock valued at $777,000 after acquiring an additional 7,230 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Copart by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 552,653 shares of the business services provider’s stock valued at $27,080,000 after acquiring an additional 9,331 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT traded up $0.59 during trading hours on Friday, reaching $54.11. The company’s stock had a trading volume of 1,274,905 shares, compared to its average volume of 4,419,666. The company has a market cap of $52.03 billion, a price-to-earnings ratio of 37.87 and a beta of 1.22. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The business’s 50-day moving average is $55.54 and its 200-day moving average is $51.75.

Copart (NASDAQ:CPRTGet Free Report) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus price target of $51.00.

View Our Latest Analysis on Copart

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. 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 in the last quarter. Insiders own 10.23% of the company’s stock.

About Copart

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.