CIBC Private Wealth Group LLC Sells 20,580 Shares of Copart, Inc. (NASDAQ:CPRT)

CIBC Private Wealth Group LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 802,257 shares of the business services provider’s stock after selling 20,580 shares during the quarter. CIBC Private Wealth Group LLC owned 0.08% of Copart worth $45,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. RWA Wealth Partners LLC purchased a new stake in shares of Copart during the fourth quarter valued at $804,000. Schroder Investment Management Group boosted its holdings in shares of Copart by 0.8% during the 4th quarter. Schroder Investment Management Group now owns 998,021 shares of the business services provider’s stock valued at $57,276,000 after acquiring an additional 7,868 shares during the last quarter. Allianz SE purchased a new position in shares of Copart during the fourth quarter valued at approximately $2,859,000. Tsai Capital Corp lifted its position in Copart by 13.3% during the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after purchasing an additional 7,230 shares during the period. Finally, Allstate Corp purchased a new stake in Copart in the fourth quarter worth approximately $1,455,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.9 %

NASDAQ CPRT opened at $55.15 on Monday. The firm has a market capitalization of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30. The company has a 50-day moving average price of $56.33 and a 200-day moving average price of $56.23. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released 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. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In other news, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were 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. Over the last quarter, insiders sold 385,480 shares of company stock valued at $21,667,683. Company insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

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

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.