Copart, Inc. (NASDAQ:CPRT) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 220.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,533,225 shares of the business services provider’s stock after purchasing an additional 1,054,168 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Copart were worth $87,992,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Sandy Spring Bank raised its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Quarry LP acquired a new position in Copart in the third quarter valued at $29,000. True Wealth Design LLC lifted its position in Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. Curio Wealth LLC acquired a new stake in Copart in the 4th quarter worth about $52,000. Finally, Continuum Advisory LLC grew its holdings in Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.9 %

CPRT stock opened at $55.15 on Friday. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30. The business has a fifty day simple moving average of $56.33 and a 200-day simple moving average of $56.19. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

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

Insider Activity at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,480 shares of company stock worth $21,667,683. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Company 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.