Millburn Ridgefield Corp Acquires New Holdings in Copart, Inc. (NASDAQ:CPRT)

Millburn Ridgefield Corp bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,842 shares of the business services provider’s stock, valued at approximately $97,000.

A number of other institutional investors have also recently bought and sold shares of CPRT. Optimum Investment Advisors lifted its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank bought a new stake in Copart during the 3rd quarter worth about $29,000. Crewe Advisors LLC boosted its stake in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Copart in the third quarter valued at about $33,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on CPRT shares. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Price Performance

CPRT stock opened at $62.24 on Wednesday. Copart, Inc. has a one year low of $46.21 and a one year high of $64.38. The stock has a market cap of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. The company has a fifty day moving average price of $55.26 and a two-hundred day moving average price of $53.54.

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

Copart 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.