Hsbc Holdings PLC Sells 35,525 Shares of Copart, Inc. (NASDAQ:CPRT)

Hsbc Holdings PLC reduced its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,656,818 shares of the business services provider's stock after selling 35,525 shares during the quarter. Hsbc Holdings PLC owned approximately 0.48% of Copart worth $267,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CPRT. Sandy Spring Bank raised its stake in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the period. Curio Wealth LLC purchased a new position in shares of Copart in the fourth quarter worth about $52,000. Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the fourth quarter valued at approximately $54,000. Eastern Bank lifted its stake in shares of Copart by 115.1% during the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after buying an additional 640 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Copart in the 4th quarter worth approximately $73,000. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 1.7 %

Shares of CPRT traded down $1.07 during mid-day trading on Friday, reaching $60.90. 4,381,054 shares of the stock traded hands, compared to its average volume of 4,414,108. The company has a market cap of $58.84 billion, a price-to-earnings ratio of 40.87 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 firm has a fifty day moving average price of $56.31 and a 200 day moving average price of $57.09.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.13 billion. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction on Friday, April 11th. The stock was 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 three months, insiders have sold 200,000 shares of company stock valued at $11,401,000. Corporate insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.