Cobblestone Capital Advisors LLC NY Increases Holdings in Copart, Inc. (NASDAQ:CPRT)

Cobblestone Capital Advisors LLC NY grew its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 47.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 393,187 shares of the business services provider's stock after acquiring an additional 126,436 shares during the quarter. Copart accounts for 1.2% of Cobblestone Capital Advisors LLC NY's portfolio, making the stock its 23rd biggest holding. Cobblestone Capital Advisors LLC NY's holdings in Copart were worth $22,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Copart by 2.5% during the third 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 acquiring an additional 941,858 shares in the last quarter. State Street Corp increased its holdings in shares of Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after purchasing an additional 120,939 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock worth $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 purchasing an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

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Copart Price Performance

Copart stock traded up $0.15 during midday trading on Wednesday, reaching $54.41. 6,079,368 shares of the company traded hands, compared to its average volume of 4,081,137. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The business has a 50 day moving average of $57.45 and a two-hundred day moving average of $55.96. The firm has a market capitalization of $52.57 billion, a price-to-earnings ratio of 36.52 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.13 billion. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 83,310 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 398,790 shares of company stock valued at $23,161,540. Insiders own 9.68% of the company's stock.

Analyst Ratings Changes

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

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.