Oppenheimer Asset Management Inc. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 38.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,014 shares of the business services provider’s stock after purchasing an additional 16,422 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Copart were worth $2,028,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its holdings in shares of Copart by 100.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock worth $130,000 after purchasing an additional 2,047 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Copart by 2.6% during the 2nd quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after buying an additional 111 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Copart by 216.3% during the 3rd quarter. IFP Advisors Inc now owns 5,491 shares of the business services provider’s stock worth $189,000 after buying an additional 3,755 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Copart during the 3rd quarter worth $200,000. Finally, Crow Point Partners LLC bought a new stake in shares of Copart during the 3rd quarter worth $198,000. 78.63% of the stock is currently owned by institutional investors.
In other news, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total transaction of $4,895,347.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the transaction, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. Insiders sold 476,667 shares of company stock valued at $17,252,147 over the last quarter. Corporate insiders own 16.40% of the company’s stock.
Copart (NASDAQ:CPRT) last posted its earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06. The firm had revenue of $419.17 million during the quarter, compared to the consensus estimate of $377.37 million. Copart had a return on equity of 29.96% and a net margin of 20.01%. During the same period last year, the company earned $0.29 earnings per share. equities research analysts anticipate that Copart, Inc. will post 1.5 EPS for the current fiscal year.
Several analysts recently weighed in on the company. BidaskClub upgraded Copart from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Gabelli restated a “hold” rating on shares of Copart in a research report on Friday, November 24th. Robert W. Baird restated a “buy” rating and set a $44.00 price objective on shares of Copart in a research report on Friday, November 24th. J P Morgan Chase & Co upped their price objective on Copart from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. Finally, Jefferies Group upped their price objective on Copart to $40.00 and gave the stock a “hold” rating in a research report on Thursday, November 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.40.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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