Copart, Inc. (NASDAQ:CPRT) Shares Sold by Ethic Inc.

Ethic Inc. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,173 shares of the business services provider’s stock after selling 1,059 shares during the quarter. Ethic Inc.’s holdings in Copart were worth $9,537,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Copart during the 4th quarter worth approximately $682,089,000. Madison Investment Advisors LLC purchased a new position in Copart during the 4th quarter valued at about $253,686,000. Bank of New York Mellon Corp lifted its position in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Edgewood Management LLC grew its holdings in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after purchasing an additional 1,785,741 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Transactions at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 0.9 %

Shares of Copart stock opened at $61.78 on Friday. The firm has a market cap of $59.69 billion, a PE ratio of 41.46 and a beta of 1.20. The business’s fifty day moving average is $57.12 and its two-hundred day moving average is $57.52. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.