Wasatch Advisors LP Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Wasatch Advisors LP cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,521 shares of the business services provider’s stock after selling 356 shares during the quarter. Wasatch Advisors LP’s holdings in Copart were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CPRT. Sandy Spring Bank boosted its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the period. Curio Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $52,000. Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $54,000. Eastern Bank increased its stake in shares of Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after buying an additional 640 shares during the period. Finally, R Squared Ltd bought a new position in shares of Copart during the fourth quarter valued at approximately $73,000. 85.78% of the stock is currently owned by institutional investors.

Insider Transactions at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock valued at $11,401,000 in the last three months. 9.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Copart Stock Performance

CPRT stock opened at $59.68 on Friday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The company has a market capitalization of $57.66 billion, a price-to-earnings ratio of 40.05 and a beta of 1.22. The business’s 50 day moving average price is $56.21 and its two-hundred day moving average price is $56.82.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share 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.