Brookstone Capital Management Invests $234,000 in Copart, Inc. (NASDAQ:CPRT)

Brookstone Capital Management acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,083 shares of the business services provider’s stock, valued at approximately $234,000.

Several other large investors also recently bought and sold shares of the business. Sanctuary Advisors LLC raised its holdings in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after purchasing an additional 9,222 shares during the last quarter. Geode Capital Management LLC grew its position in Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after purchasing an additional 291,580 shares during the period. Kinsale Capital Group Inc. raised its stake in Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 13,554 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Copart during the 2nd quarter valued at $5,418,000. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Copart in the 3rd quarter worth $1,206,000. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Up 0.9 %

CPRT opened at $56.90 on Monday. The company’s 50 day moving average is $59.07 and its 200 day moving average is $54.72. The company has a market cap of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33. Copart, Inc. has a 12-month low of $47.51 and a 12-month high of $64.38.

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

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction 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 $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Copart Company 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.