Capital Research Global Investors Sells 3,730,964 Shares of Copart, Inc. (NASDAQ:CPRT)

Capital Research Global Investors cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,964,835 shares of the business services provider's stock after selling 3,730,964 shares during the period. Capital Research Global Investors owned about 1.35% of Copart worth $744,097,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after purchasing an additional 976,909 shares during the period. Principal Financial Group Inc. increased its position in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. Edgewood Management LLC raised its holdings in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after buying an additional 2,907,405 shares during the period. Capital World Investors lifted its position in Copart by 0.8% in the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after buying an additional 3,667,534 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT traded up $0.69 during trading hours on Wednesday, hitting $61.10. 4,048,323 shares of the company's stock traded hands, compared to its average volume of 4,415,702. The firm has a market capitalization of $59.03 billion, a P/E ratio of 41.01 and a beta of 1.22. The business has a fifty day moving average price of $56.23 and a 200-day moving average price of $57.00. 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 quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was 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. Over the last ninety days, insiders have sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company's stock.

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.