Capital Research Global Investors Reduces Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Capital Research Global Investors lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,964,835 shares of the business services provider's stock after selling 3,730,964 shares during the period. Capital Research Global Investors owned approximately 1.35% of Copart worth $744,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CPRT. Sandy Spring Bank raised its stake in shares of Copart by 59.5% in 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 last quarter. Curio Wealth LLC bought a new stake in shares of Copart in the fourth quarter worth approximately $52,000. Retirement Wealth Solutions LLC purchased a new position in shares of Copart during the fourth quarter valued at approximately $54,000. Eastern Bank lifted its position in 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 purchasing an additional 640 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Copart in the fourth quarter worth approximately $73,000. Institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 in the last three months. 9.68% of the stock is owned by company insiders.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $1.32 during midday trading on Friday, hitting $60.65. The company had a trading volume of 1,515,394 shares, compared to its average volume of 4,404,084. The company has a fifty day moving average of $56.31 and a two-hundred day moving average of $57.09. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The company has a market cap of $58.60 billion, a price-to-earnings ratio of 40.77 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (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 the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.