Assenagon Asset Management S.A. Sells 1,172,259 Shares of Copart, Inc. (NASDAQ:CPRT)

Assenagon Asset Management S.A. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,861,794 shares of the business services provider's stock after selling 1,172,259 shares during the period. Assenagon Asset Management S.A. owned about 0.30% of Copart worth $161,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Brighton Jones LLC increased its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after purchasing an additional 6,817 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Copart in the fourth quarter worth $73,000. Apollon Wealth Management LLC raised its holdings in Copart by 6.4% during the 4th quarter. Apollon Wealth Management LLC now owns 23,037 shares of the business services provider's stock valued at $1,322,000 after buying an additional 1,377 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Copart by 4.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,290 shares of the business services provider's stock worth $361,000 after acquiring an additional 246 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Copart by 31.8% in the fourth quarter. Empowered Funds LLC now owns 84,445 shares of the business services provider's stock valued at $4,846,000 after acquiring an additional 20,376 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of Copart stock traded down $0.65 during trading on Thursday, hitting $49.85. 2,743,389 shares of the company's stock traded hands, compared to its average volume of 4,716,919. The stock has a market capitalization of $48.20 billion, a P/E ratio of 33.46 and a beta of 1.10. The business has a 50-day simple moving average of $57.79 and a 200-day simple moving average of $57.71. 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 announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Argus lowered Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. 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 three months. 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.