Canoe Financial LP Grows Position in Copart, Inc. (NASDAQ:CPRT)

Canoe Financial LP boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 55.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 216,327 shares of the business services provider’s stock after buying an additional 77,100 shares during the quarter. Canoe Financial LP’s holdings in Copart were worth $12,242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Brighton Jones LLC raised its position in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the last quarter. Sanctuary Advisors LLC raised its position in Copart by 5.8% in the 4th quarter. Sanctuary Advisors LLC now owns 55,822 shares of the business services provider’s stock valued at $3,269,000 after buying an additional 3,055 shares during the last quarter. Ieq Capital LLC raised its position in Copart by 12.8% in the 4th quarter. Ieq Capital LLC now owns 113,573 shares of the business services provider’s stock valued at $6,518,000 after buying an additional 12,928 shares during the last quarter. Handelsbanken Fonder AB raised its position in Copart by 21.3% in the 4th quarter. Handelsbanken Fonder AB now owns 557,126 shares of the business services provider’s stock valued at $31,973,000 after buying an additional 97,875 shares during the last quarter. Finally, Suncoast Equity Management raised its position in Copart by 8.0% in the 4th quarter. Suncoast Equity Management now owns 30,220 shares of the business services provider’s stock valued at $1,734,000 after buying an additional 2,230 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $47.97 on Friday. The company has a market capitalization of $46.38 billion, a PE ratio of 31.56 and a beta of 1.10. The business has a fifty day moving average price of $56.58 and a two-hundred day moving average price of $56.99. Copart, Inc. has a 1 year low of $47.70 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CPRT shares. Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd.

Insider Buying and Selling at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.68% of the company’s stock.

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.