Edge Capital Group LLC Purchases 3,728 Shares of Copart, Inc. (NASDAQ:CPRT)

Edge Capital Group LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 57.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,256 shares of the business services provider’s stock after buying an additional 3,728 shares during the quarter. Edge Capital Group LLC’s holdings in Copart were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in Copart during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Copart in the 3rd quarter valued at $33,000. True Wealth Design LLC boosted its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the fourth quarter worth $54,000. Finally, Continuum Advisory LLC increased its stake in shares of Copart by 88.6% in the third 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 in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 398,790 shares of company stock worth $23,161,540 over the last three months. 9.68% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of Copart stock opened at $56.75 on Tuesday. The firm has a 50 day simple moving average of $57.89 and a 200 day simple moving average of $55.78. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $54.68 billion, a P/E ratio of 38.09 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped 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 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.