KBC Group NV Raises Stake in Copart, Inc. (NASDAQ:CPRT)

KBC Group NV raised its position in Copart, Inc. (NASDAQ:CPRT) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,667 shares of the business services provider’s stock after purchasing an additional 1,715 shares during the period. KBC Group NV’s holdings in Copart were worth $8,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. Algert Global LLC acquired a new stake in Copart in the second quarter valued at $551,000. Creative Planning raised its position in shares of Copart by 3.8% during the 2nd quarter. Creative Planning now owns 139,956 shares of the business services provider’s stock worth $7,580,000 after acquiring an additional 5,166 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Copart by 19.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 40,159 shares of the business services provider’s stock worth $2,175,000 after purchasing an additional 6,548 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in Copart by 5.1% in the second quarter. Regal Investment Advisors LLC now owns 10,309 shares of the business services provider’s stock valued at $558,000 after purchasing an additional 497 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Copart by 4.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 27,418 shares of the business services provider’s stock valued at $1,485,000 after purchasing an additional 1,127 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Copart stock opened at $57.32 on Thursday. The company has a market capitalization of $55.23 billion, a P/E ratio of 40.37 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $47.92 and a fifty-two week high of $64.38. The stock has a 50-day simple moving average of $59.18 and a 200-day simple moving average of $54.88.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

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.