First Manhattan CO. LLC. Sells 24,336 Shares of Copart, Inc. (NASDAQ:CPRT)

First Manhattan CO. LLC. cut its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,901,983 shares of the business services provider's stock after selling 24,336 shares during the quarter. Copart accounts for about 0.7% of First Manhattan CO. LLC.'s portfolio, making the stock its 29th biggest holding. First Manhattan CO. LLC. owned about 0.40% of Copart worth $223,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPRT. Sandy Spring Bank boosted its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Copart during the fourth quarter valued at approximately $45,000. Curio Wealth LLC acquired a new position in Copart during the fourth quarter valued at approximately $52,000. Itau Unibanco Holding S.A. boosted its position in Copart by 340.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock valued at $53,000 after purchasing an additional 708 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Copart during the fourth quarter valued at approximately $54,000. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 0.4%

NASDAQ CPRT traded down $0.26 during midday trading on Friday, hitting $61.52. The company had a trading volume of 2,553,665 shares, compared to its average volume of 4,415,845. The company has a market capitalization of $59.43 billion, a PE ratio of 41.29 and a beta of 1.20. The firm has a 50-day moving average price of $57.26 and a 200-day moving average price of $57.67. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.13 billion. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock worth $11,401,000 in the last 90 days. Insiders own 9.68% of the company's stock.

Copart Company 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.