Sherbrooke Park Advisers LLC Has $226,000 Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Sherbrooke Park Advisers LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 84.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,936 shares of the business services provider's stock after selling 21,639 shares during the period. Sherbrooke Park Advisers LLC's holdings in Copart were worth $226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sandy Spring Bank raised its position in shares of Copart by 59.5% during 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. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Copart during the fourth quarter worth $45,000. Curio Wealth LLC acquired a new stake in shares of Copart during the fourth quarter worth $52,000. Itau Unibanco Holding S.A. raised its position in shares of Copart by 340.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock worth $53,000 after purchasing an additional 708 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Copart during the fourth quarter worth $73,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 2.9%

Shares of CPRT stock opened at $61.62 on Wednesday. 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 $59.53 billion, a price-to-earnings ratio of 41.36 and a beta of 1.20. The stock's fifty day simple moving average is $58.58 and its 200-day simple moving average is $58.16.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other Copart news, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $5,700,769.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

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.

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