Copart, Inc. (NASDAQ:CPRT) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. decreased its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 95.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,561 shares of the business services provider's stock after selling 106,700 shares during the period. Pinebridge Investments L.P.'s holdings in Copart were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sandy Spring Bank boosted its holdings in shares of Copart by 59.5% in the 4th 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. Curio Wealth LLC purchased a new position in Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Copart in the fourth quarter valued at $54,000. Eastern Bank lifted its holdings in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock worth $69,000 after acquiring an additional 640 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company's stock.

Analyst Ratings Changes

Separately, Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Copart Stock Performance

CPRT stock traded up $0.72 during midday trading on Friday, reaching $61.22. The company's stock had a trading volume of 3,152,111 shares, compared to its average volume of 4,422,009. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a market capitalization of $59.14 billion, a price-to-earnings ratio of 41.09 and a beta of 1.20. The stock has a fifty day simple moving average of $56.64 and a two-hundred day simple moving average of $57.35.

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

About Copart

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.