Curi RMB Capital LLC Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

Curi RMB Capital LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 117,548 shares of the business services provider's stock after selling 13,596 shares during the period. Curi RMB Capital LLC's holdings in Copart were worth $6,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. Norges Bank purchased a new position in shares of Copart in the fourth quarter worth about $682,089,000. Madison Investment Advisors LLC acquired a new position in shares of Copart during the 4th quarter worth approximately $253,686,000. Bank of New York Mellon Corp grew its position 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 valued at $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Edgewood Management LLC boosted its stake in Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after buying an additional 2,907,405 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Copart news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,000 shares of company stock valued at $11,401,000. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of Copart stock traded up $1.68 during trading hours on Tuesday, hitting $60.41. The company's stock had a trading volume of 3,412,403 shares, compared to its average volume of 4,413,829. The firm has a fifty day moving average of $56.23 and a 200-day moving average of $57.00. The stock has a market cap of $58.36 billion, a price-to-earnings ratio of 40.54 and a beta of 1.22. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its 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. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.