Copart, Inc. (NASDAQ:CPRT) Position Reduced by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,345,971 shares of the business services provider's stock after selling 98,377 shares during the quarter. Voloridge Investment Management LLC owned 0.14% of Copart worth $77,245,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. HighPoint Advisor Group LLC increased its holdings in Copart by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock worth $577,000 after buying an additional 175 shares during the last quarter. Sandy Spring Bank lifted its position in 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 period. Lindbrook Capital LLC lifted its position in Copart by 3.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock worth $345,000 after purchasing an additional 184 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock worth $4,314,000 after acquiring an additional 200 shares in the last quarter. Finally, Simmons Bank raised its stake in Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider's stock worth $271,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was 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 sold a total of 200,000 shares of company stock worth $11,401,000 over the last three months. 9.68% of the stock is currently owned by company insiders.

Copart Stock Down 0.6%

Copart stock opened at $63.43 on Tuesday. The stock has a 50-day simple moving average of $58.40 and a 200 day simple moving average of $58.13. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market capitalization of $61.28 billion, a price-to-earnings ratio of 42.57 and a beta of 1.20.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.

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