25,357 Shares in Copart, Inc. (NASDAQ:CPRT) Bought by Allstate Corp

Allstate Corp acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,357 shares of the business services provider’s stock, valued at approximately $1,455,000.

A number of other large investors have also modified their holdings of CPRT. Norges Bank purchased a new position in shares of Copart in the 4th quarter valued at about $682,089,000. Madison Investment Advisors LLC acquired a new stake in Copart in the fourth quarter valued at approximately $253,686,000. Bank of New York Mellon Corp increased its position in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Copart during the 4th quarter worth approximately $69,162,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was 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. Insiders have sold a total of 385,480 shares of company stock valued at $21,667,683 in the last 90 days. 9.68% of the stock is owned by insiders.

Copart Trading Down 0.9 %

Shares of Copart stock opened at $55.15 on Monday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $53.28 billion, a PE ratio of 37.01 and a beta of 1.30. The firm’s 50-day moving average price is $56.33 and its 200 day moving average price is $56.23.

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

Analysts Set New Price Targets

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.