Skopos Labs Inc. Purchases Shares of 5,079 Copart, Inc. (NASDAQ:CPRT)

Skopos Labs Inc. acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,079 shares of the business services provider’s stock, valued at approximately $249,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after buying an additional 48,891,984 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after buying an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after buying an additional 7,666,881 shares during the last quarter. FMR LLC boosted its holdings in Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after purchasing an additional 7,122,991 shares during the period. Finally, Morgan Stanley boosted its holdings in Copart by 102.2% in the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after purchasing an additional 4,915,348 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Up 0.9 %

Shares of CPRT traded up $0.50 during trading hours on Friday, reaching $54.02. The company’s stock had a trading volume of 2,632,294 shares, compared to its average volume of 3,864,753. The firm has a market cap of $51.94 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a 50 day moving average of $55.50 and a two-hundred day moving average of $51.84.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, analysts forecast that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were 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 $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock valued at $55,519,950 over the last 90 days. 10.23% of the stock is currently owned by company insiders.

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.