Copart, Inc. (NASDAQ:CPRT) Position Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 59.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 285,093 shares of the business services provider's stock after selling 410,152 shares during the period. Allspring Global Investments Holdings LLC's holdings in Copart were worth $16,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank acquired a new stake in shares of Copart during the third quarter worth $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart during the third quarter worth $33,000. True Wealth Design LLC raised its holdings in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after purchasing an additional 608 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Copart during the fourth quarter worth $54,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of CPRT stock traded down $1.52 during trading hours on Thursday, reaching $58.22. The stock had a trading volume of 7,519,608 shares, compared to its average volume of 3,438,833. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a 50-day simple moving average of $58.14 and a 200-day simple moving average of $55.59. The firm has a market capitalization of $56.10 billion, a PE ratio of 41.00 and a beta of 1.33.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. Copart had a net margin of 31.92% and a return on equity of 18.96%. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 in the last quarter. Company insiders own 9.68% of the company's stock.

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.