Sagespring Wealth Partners LLC Acquires Shares of 13,433 Copart, Inc. (NASDAQ:CPRT)

Sagespring Wealth Partners LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,433 shares of the business services provider's stock, valued at approximately $771,000.

Several other hedge funds have also modified their holdings of the stock. Townsquare Capital LLC grew its holdings in Copart by 9.6% during the 4th quarter. Townsquare Capital LLC now owns 203,948 shares of the business services provider's stock worth $11,705,000 after acquiring an additional 17,823 shares in the last quarter. Crux Wealth Advisors acquired a new position in shares of Copart during the fourth quarter worth $225,000. Rockefeller Capital Management L.P. grew its stake in shares of Copart by 18.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 80,397 shares of the business services provider's stock worth $4,614,000 after purchasing an additional 12,542 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Copart by 2.4% in the fourth quarter. Sterling Capital Management LLC now owns 105,307 shares of the business services provider's stock valued at $6,044,000 after buying an additional 2,503 shares during the last quarter. Finally, Solano Wealth Investment Advisors LLC acquired a new stake in Copart in the fourth quarter valued at $525,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Copart Trading Up 0.4 %

Shares of NASDAQ CPRT traded up $0.24 during mid-day trading on Friday, reaching $59.68. The company had a trading volume of 7,558,703 shares, compared to its average volume of 4,416,459. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a market cap of $57.66 billion, a P/E ratio of 40.05 and a beta of 1.22. The firm has a 50 day simple moving average of $56.22 and a two-hundred day simple moving average of $56.93.

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

Insiders Place Their Bets

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

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.