Addison Capital Co Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Addison Capital Co raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,585 shares of the business services provider’s stock after acquiring an additional 302 shares during the period. Copart makes up about 1.3% of Addison Capital Co’s investment portfolio, making the stock its 23rd largest position. Addison Capital Co’s holdings in Copart were worth $3,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in Copart in the 3rd quarter worth about $29,000. True Wealth Design LLC raised its holdings 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 period. Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the 4th quarter worth approximately $54,000. Continuum Advisory LLC boosted its holdings in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 452 shares during the period. Finally, Eastern Bank grew its position in Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CPRT shares. Argus downgraded Copart from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock valued at $18,007,983 over the last 90 days. Insiders own 9.68% of the company’s stock.

Copart Trading Up 0.7 %

Shares of CPRT stock opened at $52.65 on Monday. The stock has a market capitalization of $50.86 billion, a price-to-earnings ratio of 35.34 and a beta of 1.30. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a fifty day simple moving average of $56.71 and a two-hundred day simple moving average of $56.01.

Copart (NASDAQ:CPRT) last issued its earnings results 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.