OVERSEA CHINESE BANKING Corp Ltd Purchases New Position in Copart, Inc. (NASDAQ:CPRT)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 7,409 shares of the business services provider’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Nicholas Hoffman & Company LLC. lifted its position in shares of Copart by 9.2% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 11,084 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 936 shares in the last quarter. Lindbrook Capital LLC increased its stake in Copart by 18.0% in the 4th quarter. Lindbrook Capital LLC now owns 5,811 shares of the business services provider’s stock valued at $285,000 after buying an additional 885 shares during the last quarter. abrdn plc lifted its position in shares of Copart by 62.1% during the 4th quarter. abrdn plc now owns 417,306 shares of the business services provider’s stock worth $20,448,000 after buying an additional 159,844 shares in the last quarter. CNB Bank boosted its stake in shares of Copart by 21.5% in the 4th quarter. CNB Bank now owns 9,547 shares of the business services provider’s stock worth $468,000 after buying an additional 1,691 shares during the last quarter. Finally, Litman Gregory Wealth Management LLC grew its holdings in shares of Copart by 3.0% in the fourth quarter. Litman Gregory Wealth Management LLC now owns 164,099 shares of the business services provider’s stock valued at $8,041,000 after acquiring an additional 4,744 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by insiders.

Copart Stock Down 0.6 %

Shares of CPRT stock opened at $52.88 on Monday. Copart, Inc. has a 12-month low of $38.35 and a 12-month high of $58.58. The company has a 50 day moving average of $54.34 and a 200-day moving average of $50.14. The firm has a market cap of $50.84 billion, a P/E ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released 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 return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

Wall Street Analyst Weigh In

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

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.