Vident Advisory LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Vident Advisory LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 32.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,121 shares of the business services provider's stock after selling 16,946 shares during the period. Vident Advisory LLC's holdings in Copart were worth $2,016,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after purchasing an additional 976,909 shares during the last quarter. Edgewood Management LLC raised its holdings in 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 acquiring an additional 2,907,405 shares during the last quarter. Capital World Investors raised its holdings in 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 acquiring an additional 169,354 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Copart by 23.3% in 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 acquiring an additional 408,677 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CPRT shares. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven D. Cohan sold 94,997 shares of the 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 disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock worth $11,401,000 in the last three months. Corporate insiders own 9.68% of the company's stock.

Copart Stock Down 11.5%

NASDAQ:CPRT traded down $6.99 during mid-day trading on Friday, hitting $53.67. 20,806,337 shares of the stock traded hands, compared to its average volume of 4,519,197. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 36.02 and a beta of 1.20. The firm's 50 day moving average is $58.90 and its two-hundred day moving average is $58.26. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

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

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.