Copart, Inc. (NASDAQ:CPRT) Position Increased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,665,400 shares of the business services provider's stock after buying an additional 56,993 shares during the quarter. Rhumbline Advisers owned 0.17% of Copart worth $94,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CPRT. Sandy Spring Bank raised its stake in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Copart during the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart during the 4th quarter worth $45,000. Versant Capital Management Inc grew its position in Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares during the last quarter. Finally, Curio Wealth LLC purchased a new position in Copart during the 4th quarter worth $52,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 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 ninety days. 9.68% of the stock is owned by company insiders.

Copart Stock Performance

Copart stock traded down $0.24 during trading on Thursday, reaching $50.14. The company had a trading volume of 6,126,605 shares, compared to its average volume of 4,669,700. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock's 50 day moving average price is $58.28 and its two-hundred day moving average price is $57.92. The firm has a market capitalization of $48.44 billion, a price-to-earnings ratio of 33.65 and a beta of 1.10.

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

Analyst Upgrades and Downgrades

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