Avalon Capital Management Acquires Shares of 4,072 Copart, Inc. (NASDAQ:CPRT)

Avalon Capital Management acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,072 shares of the business services provider’s stock, valued at approximately $234,000.

Several other institutional investors also recently made changes to their positions in the stock. Quarry LP bought a new stake in Copart during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter valued at approximately $33,000. True Wealth Design LLC lifted its stake in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Copart during the fourth quarter valued at about $54,000. Finally, Continuum Advisory LLC grew its stake in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Matt Blunt sold 50,000 shares of the 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 link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 398,790 shares of company stock valued at $23,161,540 over the last ninety days. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $56.75 on Tuesday. The stock’s 50-day simple moving average is $57.89 and its 200 day simple moving average is $55.78. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $54.68 billion, a P/E ratio of 38.09 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

About Copart

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.