Tsai Capital Corp Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Tsai Capital Corp lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,689 shares of the business services provider's stock after acquiring an additional 7,230 shares during the quarter. Copart makes up approximately 2.6% of Tsai Capital Corp's portfolio, making the stock its 13th largest position. Tsai Capital Corp's holdings in Copart were worth $3,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Copart by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock valued at $19,494,000 after buying an additional 8,300 shares in the last quarter. National Pension Service lifted its position in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock worth $89,417,000 after acquiring an additional 48,334 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Copart in the fourth quarter worth $3,962,000. Sanctuary Advisors LLC grew its position in shares of Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock valued at $2,765,000 after purchasing an additional 9,222 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its stake in shares of Copart by 47.4% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider's stock valued at $22,565,000 after purchasing an additional 126,436 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

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Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock worth $21,667,683 over the last 90 days. 9.68% of the stock is currently owned by insiders.

Copart Stock Down 0.9 %

Shares of NASDAQ:CPRT traded down $0.49 during midday trading on Friday, hitting $55.15. 6,609,728 shares of the stock traded hands, compared to its average volume of 4,258,680. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The business's 50 day moving average is $56.33 and its two-hundred day moving average is $56.23. The stock has a market capitalization of $53.28 billion, a PE ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

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

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.