ExodusPoint Capital Management LP Takes Position in Copart, Inc. (NASDAQ:CPRT)

ExodusPoint Capital Management LP bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 261,383 shares of the business services provider's stock, valued at approximately $15,001,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Copart in the fourth quarter valued at about $682,089,000. Madison Investment Advisors LLC acquired a new stake in Copart in the 4th quarter valued at approximately $253,686,000. Bank of New York Mellon Corp raised its position 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 valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Franklin Resources Inc. lifted its stake in Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after buying an additional 1,785,741 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of Copart stock traded up $3.93 during trading hours on Wednesday, reaching $58.52. 10,567,632 shares of the company were exchanged, compared to its average volume of 4,371,222. The firm has a market cap of $56.54 billion, a PE ratio of 39.28 and a beta of 1.22. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock's fifty day moving average is $56.06 and its 200 day moving average is $56.54.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.13 billion. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current 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.