Avestar Capital LLC Purchases 533 Shares of Copart, Inc. (NASDAQ:CPRT)

Avestar Capital LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,207 shares of the business services provider’s stock after purchasing an additional 533 shares during the period. Avestar Capital LLC’s holdings in Copart were worth $1,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CPRT. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the period. Eastern Bank bought a new position in Copart during the 3rd quarter worth about $29,000. Quarry LP purchased a new position in Copart during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart in the 3rd quarter valued at about $33,000. Finally, True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $59.02 on Thursday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The business has a fifty day moving average price of $58.38 and a 200 day moving average price of $55.32. The stock has a market capitalization of $56.87 billion, a P/E ratio of 41.56 and a beta of 1.33.

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 analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock worth $39,199,813 over the last three months. Corporate insiders own 9.68% of the company’s stock.

About Copart

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.