Copart, Inc. (NASDAQ:CPRT) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 6,774.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,151,720 shares of the business services provider’s stock after acquiring an additional 1,134,966 shares during the quarter. GAMMA Investing LLC’s holdings in Copart were worth $65,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 831 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Copart by 60.3% during the first quarter. Central Pacific Bank Trust Division now owns 28,438 shares of the business services provider’s stock valued at $1,609,000 after acquiring an additional 10,702 shares during the period. First Hawaiian Bank increased its stake in shares of Copart by 17.0% during the first quarter. First Hawaiian Bank now owns 49,665 shares of the business services provider’s stock valued at $2,811,000 after acquiring an additional 7,215 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Copart by 8.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 7,988 shares of the business services provider’s stock valued at $452,000 after acquiring an additional 637 shares during the period. Finally, 111 Capital acquired a new position in shares of Copart during the fourth quarter valued at approximately $967,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of CPRT opened at $50.80 on Tuesday. The firm’s 50 day moving average is $58.60 and its 200-day moving average is $58.06. The stock has a market capitalization of $49.08 billion, a P/E ratio of 34.09 and a beta of 1.20. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CPRT shares. Argus cut Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd.

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.