Copart, Inc. (NASDAQ:CPRT) Position Reduced by Martin Currie Ltd.

Martin Currie Ltd. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,825 shares of the business services provider’s stock after selling 32,167 shares during the quarter. Martin Currie Ltd.’s holdings in Copart were worth $10,550,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Sandy Spring Bank grew its holdings in 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 acquiring an additional 176 shares during the period. Quarry LP acquired a new position in shares of Copart in the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its stake in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Curio Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $52,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Copart during the fourth quarter valued at approximately $54,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Copart Stock Down 0.9 %

Shares of NASDAQ CPRT opened at $55.15 on Friday. The business has a fifty day simple moving average of $56.33 and a 200-day simple moving average of $56.19. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,480 shares of company stock valued at $21,667,683. Company insiders own 9.68% of the company’s stock.

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.