Cynosure Group LLC Sells 2,185 Shares of Copart, Inc. (NASDAQ:CPRT)

Cynosure Group LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 27.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,641 shares of the business services provider’s stock after selling 2,185 shares during the quarter. Cynosure Group LLC’s holdings in Copart were worth $324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Copart during the fourth quarter valued at approximately $682,089,000. Madison Investment Advisors LLC purchased a new stake in shares of Copart in the fourth quarter valued at $253,686,000. Bank of New York Mellon Corp boosted its holdings in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Franklin Resources Inc. grew its position in Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Copart by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock valued at $812,488,000 after acquiring an additional 1,785,741 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $57.47 on Thursday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $55.52 billion, a PE ratio of 38.57 and a beta of 1.30. The firm’s 50 day simple moving average is $56.31 and its 200-day simple moving average is $56.34.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share 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 during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.