Unique Wealth LLC Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Unique Wealth LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 43.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,858 shares of the business services provider’s stock after buying an additional 1,788 shares during the quarter. Unique Wealth LLC’s holdings in Copart were worth $336,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp increased its holdings in Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC raised its position in Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Geode Capital Management LLC lifted its stake in Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after acquiring an additional 30,454 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last quarter. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

CPRT opened at $55.63 on Tuesday. The firm has a fifty day moving average price of $58.96 and a 200 day moving average price of $54.65. Copart, Inc. has a 1 year low of $47.31 and a 1 year high of $64.38. The stock has a market cap of $53.60 billion, a P/E ratio of 39.18 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Copart Company 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.