River Global Investors LLP Invests $17.76 Million in Copart, Inc. (NASDAQ:CPRT)

River Global Investors LLP acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 309,441 shares of the business services provider’s stock, valued at approximately $17,762,000. Copart accounts for about 3.4% of River Global Investors LLP’s holdings, making the stock its 8th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp increased its stake in Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after purchasing an additional 120,939 shares during the last quarter. Edgewood Management LLC lifted its position in Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the period. Bank of New York Mellon Corp boosted its stake in Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Up 0.0 %

CPRT stock opened at $53.74 on Friday. The company has a market cap of $51.92 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30. The business has a fifty day simple moving average of $57.25 and a 200-day simple moving average of $55.94. 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.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price 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.