Quantbot Technologies LP Sells 41,211 Shares of Copart, Inc. (NASDAQ:CPRT)

Quantbot Technologies LP reduced its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,410 shares of the business services provider's stock after selling 41,211 shares during the period. Quantbot Technologies LP's holdings in Copart were worth $2,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. Sandy Spring Bank boosted its holdings 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 valued at $27,000 after acquiring an additional 176 shares during the last quarter. Quarry LP purchased a new position in Copart during the third quarter valued at $29,000. True Wealth Design LLC grew its stake in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after acquiring an additional 608 shares during the period. Curio Wealth LLC bought a new position in shares of Copart in the fourth quarter worth approximately $52,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the 4th quarter valued at $54,000. 85.78% of the stock is owned by institutional investors.

Copart Trading Up 1.0 %

Shares of NASDAQ:CPRT traded up $0.57 during midday trading on Thursday, reaching $55.64. 4,858,945 shares of the company were exchanged, compared to its average volume of 4,014,583. The stock has a market cap of $53.75 billion, a PE ratio of 37.34 and a beta of 1.30. The business's fifty day moving average is $56.38 and its two-hundred day moving average is $56.10. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

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Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.16 billion during 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%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 385,480 shares of company stock worth $21,667,683 over the last 90 days. 9.68% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Copart

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.