Advisory Services Network LLC Sells 4,413 Shares of Copart, Inc. (NASDAQ:CPRT)

Advisory Services Network LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 152,699 shares of the business services provider’s stock after selling 4,413 shares during the period. Advisory Services Network LLC’s holdings in Copart were worth $8,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. Mn Services Vermogensbeheer B.V. grew its stake in shares of Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock valued at $19,494,000 after purchasing an additional 8,300 shares during the last quarter. National Pension Service lifted its holdings in Copart by 3.2% during the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after buying an additional 48,334 shares in the last quarter. Tsai Capital Corp boosted its position in Copart by 13.3% in the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after buying an additional 7,230 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Copart in the 4th quarter valued at $3,962,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Copart by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after buying an additional 9,222 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $54.59 on Wednesday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market capitalization of $52.74 billion, a P/E ratio of 36.64 and a beta of 1.22. The company’s 50 day simple moving average is $56.05 and its 200 day simple moving average is $56.48.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal 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.