Frank Rimerman Advisors LLC Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

Frank Rimerman Advisors LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 79.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,966 shares of the business services provider's stock after selling 15,580 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Copart were worth $228,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPRT. Madison Investment Advisors LLC purchased a new position in shares of Copart in the fourth quarter worth about $253,686,000. Bank of New York Mellon Corp raised its position in Copart by 23.3% during the 4th 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 buying an additional 3,667,534 shares during the last quarter. Franklin Resources Inc. lifted its stake in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock valued at $149,471,000 after acquiring an additional 2,084,626 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Copart in the 4th quarter valued at $69,162,000. Finally, Amundi boosted its holdings in shares of Copart by 18.2% in the 4th quarter. Amundi now owns 7,080,834 shares of the business services provider's stock valued at $402,332,000 after acquiring an additional 1,090,841 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Price Performance

CPRT stock traded down $0.22 during trading on Friday, hitting $53.63. 5,952,411 shares of the company traded hands, compared to its average volume of 4,025,435. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a market cap of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30. The stock's 50-day simple moving average is $56.47 and its 200 day simple moving average is $55.99.

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Copart (NASDAQ:CPRT - Get Free Report) last posted its 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 net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion during 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.

Insiders Place Their Bets

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 filing with the SEC, which is accessible through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,480 shares of company stock worth $18,007,983. Company insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a 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.