DekaBank Deutsche Girozentrale Sells 64,364 Shares of Copart, Inc. (NASDAQ:CPRT)

DekaBank Deutsche Girozentrale reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 15.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 346,691 shares of the business services provider's stock after selling 64,364 shares during the period. DekaBank Deutsche Girozentrale's holdings in Copart were worth $18,962,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after purchasing an additional 976,909 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Copart by 14.1% in 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 last quarter. Capital World Investors boosted its stake in shares of Copart by 0.8% in the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after buying an additional 408,677 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.51 during trading on Friday, hitting $47.48. 2,134,417 shares of the company were exchanged, compared to its average volume of 5,447,332. The company has a market cap of $45.91 billion, a PE ratio of 31.26 and a beta of 1.07. Copart, Inc. has a 52-week low of $47.33 and a 52-week high of $64.38. The stock has a 50 day moving average of $53.31 and a 200 day moving average of $55.81.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Argus downgraded Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Stephens assumed coverage on Copart in a research note on Tuesday. They issued an "equal weight" rating and a $50.00 target price on the 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.