Massachusetts Financial Services Co. MA Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Massachusetts Financial Services Co. MA increased its holdings in Copart, Inc. (NASDAQ:CPRTFree Report) by 99.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,871,990 shares of the business services provider’s stock after acquiring an additional 3,921,669 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.82% of Copart worth $339,204,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Copart in the 3rd quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Copart in the 1st quarter valued at approximately $29,000. Annapolis Financial Services LLC raised its position in shares of Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Hollencrest Capital Management raised its position in shares of Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 210 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Copart by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 400 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Copart

In other Copart news, Chairman Willis J. Johnson sold 100,765 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $49.83, for a total value of $5,021,119.95. Following the transaction, the chairman now owns 50,681,963 shares in the company, valued at approximately $2,525,482,216.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Copart news, Director Daniel J. Englander sold 320,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Willis J. Johnson sold 100,765 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $49.83, for a total value of $5,021,119.95. Following the completion of the transaction, the chairman now owns 50,681,963 shares in the company, valued at approximately $2,525,482,216.29. The disclosure for this sale can be found here. 10.23% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $49.99 on Tuesday. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 36.62 and a beta of 1.22. Copart, Inc. has a 12 month low of $33.62 and a 12 month high of $51.53. The firm’s 50 day simple moving average is $48.59 and its 200-day simple moving average is $48.52.

Copart (NASDAQ:CPRTGet Free Report) last released its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Copart had a net margin of 33.14% and a return on equity of 22.45%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $987.90 million. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CPRT shares. HSBC assumed coverage on shares of Copart in a research report on Monday, December 4th. They issued a “hold” rating and a $51.00 price objective for the company. StockNews.com upgraded shares of Copart from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

View Our Latest Research Report on CPRT

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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