Semanteon Capital Management LP Takes Position in Copart, Inc. (NASDAQ:CPRT)

Semanteon Capital Management LP bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 23,954 shares of the business services provider’s stock, valued at approximately $1,174,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in Copart in the third quarter worth about $25,000. Manchester Capital Management LLC increased its position in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the period. Bell Investment Advisors Inc increased its position in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after purchasing an additional 323 shares during the period. Fortitude Family Office LLC acquired a new stake in Copart in the fourth quarter worth about $34,000. Finally, Annapolis Financial Services LLC increased its position in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after purchasing an additional 360 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of Copart stock traded up $0.29 during trading on Thursday, hitting $55.22. 4,600,815 shares of the company were exchanged, compared to its average volume of 4,598,456. The firm has a market capitalization of $53.09 billion, a P/E ratio of 39.73 and a beta of 1.22. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58. The firm’s fifty day moving average price is $54.73 and its 200 day moving average price is $50.34.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. Copart’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. As a group, equities research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

Analyst Ratings Changes

CPRT has been the subject of a number of research reports. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $51.00.

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.