Kimelman & Baird LLC Sells 33,945 Shares of Copart, Inc. (NASDAQ:CPRT)

Kimelman & Baird LLC cut its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,247,667 shares of the business services provider's stock after selling 33,945 shares during the quarter. Copart makes up approximately 5.7% of Kimelman & Baird LLC's investment portfolio, making the stock its 2nd largest holding. Kimelman & Baird LLC owned about 0.13% of Copart worth $71,604,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPRT. Principal Financial Group Inc. lifted its holdings 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. State Street Corp increased its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock valued at $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC raised its stake in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock valued at $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Copart by 23.3% in 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 acquiring an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock worth $979,547,000 after acquiring an additional 291,580 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 315,480 shares of company stock worth $18,007,983. Company insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

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

Copart Price Performance

CPRT traded down $0.22 on Friday, reaching $53.63. 5,952,411 shares of the stock were exchanged, compared to its average volume of 4,025,435. The company's 50-day moving average price is $56.47 and its 200 day moving average price is $55.99. The firm has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.