Rockbridge Capital Management LLC Purchases New Holdings in Copart, Inc. (NASDAQ:CPRT)

Rockbridge Capital Management LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 238,830 shares of the business services provider's stock, valued at approximately $13,706,000. Copart comprises 7.8% of Rockbridge Capital Management LLC's portfolio, making the stock its 6th biggest position.

A number of other hedge funds also recently bought and sold shares of CPRT. Sandy Spring Bank boosted its stake in Copart by 59.5% in the fourth 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 in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Copart during the 4th quarter worth $45,000. Curio Wealth LLC purchased a new position in shares of Copart during the fourth quarter worth about $52,000. Itau Unibanco Holding S.A. raised its stake in shares of Copart by 340.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock worth $53,000 after purchasing an additional 708 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the 4th quarter worth $54,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated 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. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 in the last 90 days. 9.68% of the stock is owned by company insiders.

Copart Trading Down 0.6%

Shares of NASDAQ CPRT traded down $0.41 during midday trading on Monday, reaching $63.43. 5,970,005 shares of the stock were exchanged, compared to its average volume of 4,407,312. The stock has a 50 day moving average price of $58.19 and a 200-day moving average price of $58.05. The company has a market capitalization of $61.28 billion, a P/E ratio of 42.57 and a beta of 1.20. 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 quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Argus cut Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

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.