Durable Capital Partners LP Sells 2,084,403 Shares of Copart, Inc. (NASDAQ:CPRT)

Durable Capital Partners LP lowered its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 49.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,143,957 shares of the business services provider's stock after selling 2,084,403 shares during the quarter. Durable Capital Partners LP owned approximately 0.22% of Copart worth $123,042,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Copart during the fourth quarter valued at $682,089,000. Madison Investment Advisors LLC acquired a new position in Copart during the 4th quarter valued at about $253,686,000. Bank of New York Mellon Corp boosted its stake in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Edgewood Management LLC grew its position in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after buying an additional 2,907,405 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after buying an additional 2,084,626 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of Copart stock traded down $0.26 during trading on Friday, hitting $61.52. 2,553,665 shares of the company were exchanged, compared to its average volume of 4,413,778. The firm has a market capitalization of $59.43 billion, a P/E ratio of 41.29 and a beta of 1.20. The firm's fifty day moving average price is $57.26 and its 200 day moving average price is $57.58. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the company'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 disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 over the last ninety days. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of 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.