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

Semanteon Capital Management LP acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,954 shares of the business services provider’s stock, valued at approximately $1,174,000.

Several other large investors also recently made changes to their positions in CPRT. OFI Invest Asset Management bought a new position in shares of Copart during the 3rd quarter valued at about $25,000. Manchester Capital Management LLC boosted its position in shares of Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares in the last quarter. Annapolis Financial Services LLC boosted its position in shares of Copart by 100.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Copart by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT traded up $0.29 during trading hours on Thursday, hitting $55.22. 4,600,815 shares of the company’s stock traded hands, compared to its average volume of 4,598,456. The stock’s fifty day moving average price is $54.73 and its two-hundred day moving average price is $50.34. The firm has a market cap of $53.09 billion, a P/E ratio of 39.73 and a beta of 1.22. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58.

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

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following 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 SEC, which is available at this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock worth $55,519,950 in the last quarter. 10.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.00.

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.