Enhancing Capital LLC Invests $567,000 in Copart, Inc. (NASDAQ:CPRT)

Enhancing Capital LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,885 shares of the business services provider’s stock, valued at approximately $567,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Quarry LP acquired a new stake in shares of Copart during the third quarter worth approximately $29,000. True Wealth Design LLC increased its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Curio Wealth LLC acquired a new stake in shares of Copart in the 4th quarter valued at about $52,000. Retirement Wealth Solutions LLC bought a new position in shares of Copart during the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC grew its stake in 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 purchasing an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock valued at $18,007,983 over the last three months. Company insiders own 9.68% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $53.75 on Tuesday. The firm has a market capitalization of $51.93 billion, a PE ratio of 36.07 and a beta of 1.30. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a 50-day simple moving average of $56.65 and a 200-day simple moving average of $56.02.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating 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%. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday.

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.