Penserra Capital Management LLC Sells 7,941 Shares of Copart, Inc. (NASDAQ:CPRT)

Penserra Capital Management LLC decreased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,610 shares of the business services provider's stock after selling 7,941 shares during the quarter. Penserra Capital Management LLC's holdings in Copart were worth $4,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Copart by 289.6% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock valued at $1,970,000 after purchasing an additional 25,512 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $604,000. Tsai Capital Corp increased its stake in shares of Copart by 13.3% during the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after buying an additional 7,230 shares during the period. Voleon Capital Management LP bought a new position in shares of Copart during the fourth quarter valued at approximately $1,314,000. Finally, Handelsbanken Fonder AB lifted its stake in Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock worth $48,347,000 after acquiring an additional 297,210 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction dated 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 SEC, which is available at this hyperlink. 9.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Copart Stock Up 0.4%

CPRT opened at $49.29 on Monday. Copart, Inc. has a 52 week low of $47.33 and a 52 week high of $64.38. The stock has a market cap of $47.66 billion, a PE ratio of 32.42 and a beta of 1.07. The business has a 50 day moving average of $54.28 and a 200-day moving average of $56.06.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Equities 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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