Copart, Inc. (NASDAQ:CPRT) Position Reduced by Port Capital LLC

Port Capital LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,469,278 shares of the business services provider's stock after selling 202,329 shares during the period. Copart accounts for about 3.8% of Port Capital LLC's holdings, making the stock its 8th biggest position. Port Capital LLC owned approximately 0.15% of Copart worth $84,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in Copart by 0.4% in the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider's stock valued at $316,639,000 after buying an additional 21,710 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of Copart in the 4th quarter worth $267,000. Brookstone Capital Management purchased a new stake in shares of Copart in the fourth quarter valued at about $234,000. 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 worth $69,000 after acquiring an additional 640 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Copart by 2.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider's stock worth $529,000 after purchasing an additional 208 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Up 1.4%

CPRT stock traded up $0.87 on Friday, reaching $63.84. 4,625,053 shares of the company's stock were exchanged, compared to its average volume of 4,401,040. The stock has a fifty day moving average of $58.19 and a 200-day moving average of $58.00. The firm has a market cap of $61.68 billion, a PE ratio of 42.85 and a beta of 1.20. 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 earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 over the last 90 days. Company insiders own 9.68% of the company's stock.

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.