Ardevora Asset Management LLP Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Ardevora Asset Management LLP cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 48.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,990 shares of the business services provider's stock after selling 107,934 shares during the quarter. Ardevora Asset Management LLP's holdings in Copart were worth $5,635,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in shares of Copart during the third quarter valued at about $25,000. Manchester Capital Management LLC raised its position in shares of Copart by 101.0% during the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider's stock worth $27,000 after acquiring an additional 314 shares during the last quarter. Quarry LP bought a new position in shares of Copart during the first quarter worth about $29,000. Bell Investment Advisors Inc raised its position in shares of Copart by 87.1% during the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider's stock worth $30,000 after acquiring an additional 323 shares during the last quarter. Finally, Annapolis Financial Services LLC increased its holdings in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider's stock worth $31,000 after purchasing an additional 360 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the business's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the company's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by company insiders.

Copart Price Performance

Shares of NASDAQ CPRT traded down $0.32 during trading on Friday, reaching $52.88. 5,783,462 shares of the stock traded hands, compared to its average volume of 3,769,303. Copart, Inc. has a 52-week low of $38.35 and a 52-week high of $58.58. The company has a 50-day moving average of $54.34 and a 200-day moving average of $50.14. The stock has a market capitalization of $50.84 billion, a P/E ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm's quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com downgraded Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.00.

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.