New York State Common Retirement Fund Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

New York State Common Retirement Fund trimmed its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,707,145 shares of the business services provider's stock after selling 5,700 shares during the period. New York State Common Retirement Fund owned 0.18% of Copart worth $97,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. Eastern Bank acquired a new stake in Copart in the 3rd quarter worth about $29,000. Quarry LP purchased a new position in shares of Copart in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Copart in the 3rd quarter worth about $33,000. True Wealth Design LLC raised its holdings in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after purchasing an additional 608 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Copart in the 4th quarter worth about $54,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 3.0 %

Shares of Copart stock traded down $1.77 during trading hours on Friday, reaching $56.45. The stock had a trading volume of 4,136,529 shares, compared to its average volume of 3,455,608. The firm has a 50 day simple moving average of $58.07 and a two-hundred day simple moving average of $55.61. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 39.81 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

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.