Transcend Capital Advisors LLC Buys 2,322 Shares of Copart, Inc. (NASDAQ:CPRT)

Transcend Capital Advisors LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 20.4% during the 4th quarter, Holdings Channel reports. The fund owned 13,721 shares of the business services provider’s stock after acquiring an additional 2,322 shares during the period. Transcend Capital Advisors LLC’s holdings in Copart were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp grew its holdings in Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC increased its position in Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after buying an additional 291,580 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Copart by 0.4% in the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after acquiring an additional 21,710 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price target 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 Trading Down 2.8 %

Shares of CPRT stock opened at $56.61 on Friday. The stock has a market cap of $54.55 billion, a P/E ratio of 38.00 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a 50 day simple moving average of $57.97 and a 200 day simple moving average of $55.69.

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

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade 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 through this link. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last quarter. 9.68% of the stock is owned by company insiders.

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.