Picton Mahoney Asset Management Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Picton Mahoney Asset Management decreased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 220,498 shares of the business services provider's stock after selling 34,452 shares during the quarter. Picton Mahoney Asset Management's holdings in Copart were worth $12,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. grew its position in shares of Copart by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock valued at $19,494,000 after acquiring an additional 8,300 shares during the period. National Pension Service grew its position in shares of Copart by 3.2% during the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after acquiring an additional 48,334 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of Copart during the 4th quarter valued at about $3,962,000. Sanctuary Advisors LLC grew its position in shares of Copart by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock valued at $2,765,000 after acquiring an additional 9,222 shares during the period. Finally, Cobblestone Capital Advisors LLC NY grew its position in shares of Copart by 47.4% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider's stock valued at $22,565,000 after acquiring an additional 126,436 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

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Insider Activity

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company's stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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. In the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by company insiders.

Copart Stock Up 1.8 %

Shares of Copart stock traded up $0.96 on Wednesday, hitting $53.88. 4,368,347 shares of the company were exchanged, compared to its average volume of 4,020,705. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 36.16 and a beta of 1.30. The company has a 50-day moving average price of $56.58 and a 200 day moving average price of $56.02. 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 released its quarterly 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Argus cut 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.