Mn Services Vermogensbeheer B.V. Has $17.96 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,380 shares of the business services provider's stock after selling 22,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Copart were worth $17,961,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Copart during the fourth quarter worth about $682,089,000. Madison Investment Advisors LLC bought a new stake in shares of Copart during the 4th quarter worth approximately $253,686,000. Bank of New York Mellon Corp boosted its position in shares of Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares in the last quarter. Edgewood Management LLC boosted 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 acquiring an additional 2,907,405 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Copart by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock valued at $812,488,000 after acquiring an additional 1,785,741 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart 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 have sold 200,000 shares of company stock valued at $11,401,000 in the last ninety days. 9.68% of the stock is currently owned by insiders.

Copart Stock Down 0.4%

Shares of NASDAQ:CPRT traded down $0.20 during trading on Monday, hitting $48.39. 13,256,398 shares of the company were exchanged, compared to its average volume of 4,793,715. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The company has a market capitalization of $46.79 billion, a P/E ratio of 32.48 and a beta of 1.10. The business's 50 day moving average is $57.58 and its 200-day moving average is $57.42.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm posted $0.39 earnings per share. The business's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPRT. JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Argus cut Copart from a "buy" rating to a "hold" rating in a research 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.