Wolverine Asset Management LLC Invests $735,000 in Copart, Inc. (NASDAQ:CPRT)

Wolverine Asset Management LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,000 shares of the business services provider’s stock, valued at approximately $735,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after purchasing an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after purchasing an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after purchasing an additional 7,666,881 shares in the last quarter. Finally, FMR LLC lifted its holdings in Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after purchasing an additional 7,122,991 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $55.22 on Friday. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The company has a 50 day moving average price of $54.73 and a 200 day moving average price of $50.34. The stock has a market capitalization of $53.09 billion, a P/E ratio of 39.73 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, research analysts forecast that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPRT. JPMorgan Chase & Co. increased their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded shares of 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, Copart has an average rating of “Hold” and a consensus price target of $51.00.

Insider Buying and Selling at Copart

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

Copart 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.