Prudential PLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Prudential PLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,778 shares of the business services provider's stock after selling 11,401 shares during the period. Prudential PLC's holdings in Copart were worth $963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sandy Spring Bank boosted its position in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Quarry LP purchased a new position in shares of Copart during the third quarter worth $29,000. Curio Wealth LLC acquired a new stake in shares of Copart in the fourth quarter valued at $52,000. Continuum Advisory LLC raised its holdings in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock valued at $55,000 after buying an additional 452 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Copart in the 4th quarter valued at $54,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In related news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is owned by corporate insiders.

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Copart Stock Up 2.0 %

Copart stock traded up $1.18 during mid-day trading on Friday, reaching $59.84. 7,017,411 shares of the company's stock were exchanged, compared to its average volume of 4,403,098. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a market cap of $57.81 billion, a P/E ratio of 40.16 and a beta of 1.22. The company has a fifty day moving average of $56.12 and a 200-day moving average of $56.67.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (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 analysts' expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a research 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.