Citigroup Inc. Raises Stake in Copart, Inc. (NASDAQ:CPRT)

Citigroup Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRTFree Report) by 100.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 784,743 shares of the business services provider’s stock after buying an additional 394,170 shares during the quarter. Citigroup Inc.’s holdings in Copart were worth $33,815,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Copart by 1,212.2% during the first 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 purchasing an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Copart by 14.6% during the first quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 1,079 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Copart by 52.1% during the first quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after purchasing an additional 3,707 shares in the last quarter. National Pension Service increased its position in Copart by 5.0% during the first 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. increased its position in Copart by 1.2% during the first 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. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $50.48 on Tuesday. The firm has a market cap of $48.47 billion, a price-to-earnings ratio of 36.98 and a beta of 1.22. The firm has a 50-day simple moving average of $48.65 and a two-hundred day simple moving average of $48.72. Copart, Inc. has a one year low of $33.62 and a one year high of $51.53.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CPRT shares. StockNews.com upgraded shares of Copart from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. HSBC began coverage on shares of Copart in a report on Monday, December 4th. They issued a “hold” rating and a $51.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Read Our Latest Stock Analysis on CPRT

Insider Activity at Copart

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

Copart Profile

(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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