Copart, Inc. (NASDAQ:CPRT) Stock Position Cut by Man Group plc

Man Group plc reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 875,469 shares of the business services provider's stock after selling 101,561 shares during the quarter. Man Group plc owned 0.09% of Copart worth $50,243,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CPRT. Sandy Spring Bank boosted 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 valued at $27,000 after acquiring an additional 176 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart during the 4th quarter valued at $45,000. Curio Wealth LLC bought a new position in Copart during the 4th quarter valued at $52,000. Itau Unibanco Holding S.A. boosted its stake in Copart by 340.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock valued at $53,000 after acquiring an additional 708 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Copart during the 4th quarter valued at $54,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 1.4%

Shares of NASDAQ:CPRT traded up $0.87 on Friday, reaching $63.84. 4,625,053 shares of the company's stock were exchanged, compared to its average volume of 4,401,040. The firm has a market capitalization of $61.68 billion, a price-to-earnings ratio of 42.85 and a beta of 1.20. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The business's 50-day moving average is $58.19 and its two-hundred day moving average is $58.00.

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

Insiders Place Their Bets

In related news, 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 value of $5,400,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The stock was 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. Over the last three months, insiders have sold 200,000 shares of company stock valued at $11,401,000. Company insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a research note 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.