Sage Mountain Advisors LLC Has $13.97 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Sage Mountain Advisors LLC trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,071 shares of the business services provider's stock after selling 114,866 shares during the period. Copart accounts for 1.6% of Sage Mountain Advisors LLC's holdings, making the stock its 12th biggest position. Sage Mountain Advisors LLC's holdings in Copart were worth $13,968,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider's stock worth $4,201,821,000 after buying an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider's stock valued at $1,715,114,000 after acquiring an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider's stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider's stock valued at $748,006,000 after acquiring an additional 7,666,881 shares during the last quarter. Finally, FMR LLC increased its position in shares of Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider's stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, April 8th. StockNews.com cut shares of Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Copart presently has a consensus rating of "Hold" and a consensus target price of $51.00.

Copart Price Performance

Shares of CPRT stock traded up $0.42 during trading on Monday, reaching $53.30. The company's stock had a trading volume of 3,307,096 shares, compared to its average volume of 4,622,308. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58. The stock's 50-day moving average price is $54.40 and its 200 day moving average price is $50.21. The company has a market capitalization of $51.25 billion, a price-to-earnings ratio of 38.35 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm's revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 100,000 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock worth $55,519,950 over the last 90 days. 10.23% of the stock is owned by insiders.

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.