Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Second Line Capital LLC

Second Line Capital LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 11.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,619 shares of the business services provider’s stock after purchasing an additional 5,284 shares during the quarter. Second Line Capital LLC’s holdings in Copart were worth $2,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CPRT. Optimum Investment Advisors boosted its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Quarry LP acquired a new position in Copart in the 3rd quarter worth approximately $29,000. Crewe Advisors LLC grew its position in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $61.52 on Wednesday. The stock has a 50-day simple moving average of $56.44 and a 200-day simple moving average of $53.87. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The firm has a market cap of $59.28 billion, a price-to-earnings ratio of 43.32 and a beta of 1.31.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CPRT. Robert W. Baird decreased their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

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.