Copart, Inc. (NASDAQ:CPRT) Stock Position Reduced by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. decreased its position in Copart, Inc. (NASDAQ:CPRT) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,494 shares of the business services provider’s stock after selling 855 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Copart were worth $465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Copart during the third quarter worth $25,000. Manchester Capital Management LLC lifted its holdings in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 323 shares during the period. Annapolis Financial Services LLC grew its holdings in shares of Copart by 100.0% during the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Copart during the 4th quarter worth approximately $34,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock worth $55,519,950 over the last three months. Corporate insiders own 10.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CPRT shares. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Copart has an average rating of “Hold” and a consensus price target of $51.00.

Copart Trading Up 0.2 %

CPRT traded up $0.10 during trading hours on Thursday, hitting $55.26. The company’s stock had a trading volume of 3,365,242 shares, compared to its average volume of 4,476,562. The company has a 50-day simple moving average of $55.57 and a 200 day simple moving average of $50.98. The firm has a market capitalization of $53.13 billion, a PE ratio of 39.68 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

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.