Navellier & Associates Inc. Has $1.54 Million Position in Copart, Inc. (NASDAQ:CPRT)

Navellier & Associates Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 30.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,785 shares of the business services provider’s stock after acquiring an additional 6,269 shares during the quarter. Navellier & Associates Inc.’s holdings in Copart were worth $1,537,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CPRT. Eastern Bank acquired a new position in shares of Copart during the 3rd quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Copart during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Copart in the 3rd quarter valued at $33,000. True Wealth Design LLC grew its holdings in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Copart in the 4th quarter valued at $54,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ CPRT opened at $56.61 on Friday. The stock’s fifty day moving average price is $57.97 and its two-hundred day moving average price is $55.69. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $54.55 billion, a price-to-earnings ratio of 38.00 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for 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%. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Company 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.