Thoroughbred Financial Services LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Thoroughbred Financial Services LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,910 shares of the business services provider’s stock after selling 815 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Copart were worth $1,888,000 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. DF Dent & Co. Inc. increased its holdings in shares of Copart by 76.7% in the fourth quarter. DF Dent & Co. Inc. now owns 914,723 shares of the business services provider’s stock valued at $52,496,000 after purchasing an additional 397,130 shares during the period. ExodusPoint Capital Management LP acquired a new position in Copart in the 4th quarter worth approximately $15,001,000. Motley Fool Asset Management LLC increased its holdings in Copart by 13.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 43,874 shares of the business services provider’s stock worth $2,518,000 after buying an additional 5,141 shares during the period. Westpac Banking Corp lifted its stake in Copart by 7.9% during the 4th quarter. Westpac Banking Corp now owns 52,011 shares of the business services provider’s stock valued at $2,985,000 after acquiring an additional 3,823 shares during the period. Finally, Bryce Point Capital LLC purchased a new stake in shares of Copart in the 4th quarter valued at $1,319,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Stock Down 3.8 %

Copart stock opened at $54.51 on Friday. The business’s 50-day moving average price is $56.23 and its 200 day moving average price is $56.38. The firm has a market cap of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

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.