MetLife Investment Management LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

MetLife Investment Management LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,790 shares of the business services provider’s stock after buying an additional 3,137 shares during the period. MetLife Investment Management LLC’s holdings in Copart were worth $15,368,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Mn Services Vermogensbeheer B.V. grew its position in shares of Copart by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after buying an additional 8,300 shares during the period. National Pension Service increased its stake in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock valued at $89,417,000 after purchasing an additional 48,334 shares in the last quarter. Tsai Capital Corp increased its stake in shares of Copart by 13.3% during the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after purchasing an additional 7,230 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Copart during the fourth quarter valued at approximately $3,962,000. Finally, Cobblestone Capital Advisors LLC NY grew its stake in shares of Copart by 47.4% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider’s stock worth $22,565,000 after buying an additional 126,436 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Up 0.4 %

NASDAQ:CPRT opened at $59.68 on Monday. The stock has a market cap of $57.66 billion, a price-to-earnings ratio of 40.05 and a beta of 1.22. The company’s 50 day moving average price is $56.22 and its 200-day moving average price is $56.93. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business 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%. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by corporate insiders.

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.