AIA Group Ltd Acquires 9,011 Shares of Copart, Inc. (NASDAQ:CPRT)

AIA Group Ltd grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,695 shares of the business services provider’s stock after purchasing an additional 9,011 shares during the quarter. AIA Group Ltd’s holdings in Copart were worth $4,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Copart by 100.6% during the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after purchasing an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. Finally, FMR LLC raised its position in shares of Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after purchasing an additional 7,122,991 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart 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 sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock valued at $55,519,950 in the last quarter. Corporate insiders own 10.23% of the company’s stock.

Copart Price Performance

CPRT stock traded down $0.61 on Thursday, reaching $53.41. 1,784,022 shares of the company were exchanged, compared to its average volume of 4,600,771. Copart, Inc. has a 12 month low of $38.35 and a 12 month high of $58.58. The stock’s fifty day moving average price is $54.26 and its 200 day moving average price is $49.96. The firm has a market capitalization of $51.35 billion, a PE ratio of 38.43 and a beta of 1.22.

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

Analyst Ratings Changes

Several research firms recently issued reports on CPRT. JPMorgan Chase & Co. upped their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.