Hsbc Holdings PLC Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

Hsbc Holdings PLC cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,656,818 shares of the business services provider's stock after selling 35,525 shares during the period. Hsbc Holdings PLC owned about 0.48% of Copart worth $267,373,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CPRT. Sandy Spring Bank grew its holdings in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the period. Curio Wealth LLC purchased a new stake in Copart in the 4th quarter worth about $52,000. Retirement Wealth Solutions LLC bought a new stake in Copart in the 4th quarter valued at about $54,000. Eastern Bank lifted its holdings in Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after purchasing an additional 640 shares during the last quarter. Finally, R Squared Ltd bought a new position in Copart during the fourth quarter worth about $73,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 1.7 %

Shares of NASDAQ CPRT traded down $1.07 during mid-day trading on Friday, hitting $60.90. The company had a trading volume of 4,381,054 shares, compared to its average volume of 4,414,111. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a market capitalization of $58.84 billion, a price-to-earnings ratio of 40.87 and a beta of 1.22. The stock's 50-day moving average price is $56.34 and its 200-day moving average price is $57.13.

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 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related 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 filing with the SEC, which is available at the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $11,401,000. Corporate insiders own 9.68% of the company's stock.

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.