Schonfeld Strategic Advisors LLC Sells 46,529 Shares of Copart, Inc. (NASDAQ:CPRT)

Schonfeld Strategic Advisors LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,480 shares of the business services provider's stock after selling 46,529 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Copart were worth $3,758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. California State Teachers Retirement System lifted its holdings in Copart by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 1,443,947 shares of the business services provider's stock worth $82,868,000 after buying an additional 3,642 shares during the period. Lido Advisors LLC boosted its holdings in Copart by 46.9% in the fourth quarter. Lido Advisors LLC now owns 17,307 shares of the business services provider's stock valued at $993,000 after acquiring an additional 5,528 shares during the last quarter. Northern Trust Corp raised its holdings in Copart by 12.3% during the 4th quarter. Northern Trust Corp now owns 8,865,301 shares of the business services provider's stock worth $508,780,000 after purchasing an additional 971,940 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of Copart in the 4th quarter worth approximately $2,002,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Copart in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were 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 over the last quarter. Insiders own 9.68% of the company's stock.

Analyst Ratings Changes

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

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.44 during mid-day trading on Wednesday, reaching $61.24. 3,403,286 shares of the company's stock traded hands, compared to its average volume of 4,408,066. The business has a 50-day simple moving average of $56.85 and a 200 day simple moving average of $57.43. The stock has a market cap of $59.16 billion, a P/E ratio of 41.10 and a beta of 1.20. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.