Quantinno Capital Management LP Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Quantinno Capital Management LP raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,821 shares of the business services provider’s stock after acquiring an additional 17,277 shares during the period. Quantinno Capital Management LP’s holdings in Copart were worth $6,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Sandy Spring Bank boosted its position in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Copart in the fourth quarter worth about $45,000. Curio Wealth LLC purchased a new stake in shares of Copart in the fourth quarter worth about $52,000. Itau Unibanco Holding S.A. boosted its position in shares of Copart by 340.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider’s stock worth $53,000 after buying an additional 708 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Copart in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

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

Analyst Upgrades and Downgrades

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

Copart Stock Up 1.4%

Shares of NASDAQ CPRT opened at $63.84 on Friday. The stock’s 50 day moving average price is $58.19 and its two-hundred day moving average price is $57.96. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a market capitalization of $61.68 billion, a P/E ratio of 42.85 and a beta of 1.20.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, 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.