JPMorgan Chase & Co. Buys 625,586 Shares of Copart, Inc. (NASDAQ:CPRT)

JPMorgan Chase & Co. boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,239,112 shares of the business services provider’s stock after acquiring an additional 625,586 shares during the period. JPMorgan Chase & Co.’s holdings in Copart were worth $759,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Copart by 6.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,539,807 shares of the business services provider’s stock worth $87,630,000 after buying an additional 86,652 shares in the last quarter. Korea Investment CORP increased its stake in Copart by 88.9% in the 4th quarter. Korea Investment CORP now owns 529,666 shares of the business services provider’s stock worth $30,398,000 after acquiring an additional 249,262 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Copart by 6.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,634 shares of the business services provider’s stock valued at $782,000 after acquiring an additional 829 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Copart during the 4th quarter valued at about $245,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.9 %

CPRT opened at $55.15 on Friday. The business’s fifty day simple moving average is $56.33 and its 200 day simple moving average is $56.14. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a market cap of $53.28 billion, a PE ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.