Copart, Inc. (NASDAQ:CPRT) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,012,953 shares of the business services provider’s stock after selling 3,900,584 shares during the period. Copart accounts for approximately 0.7% of Alliancebernstein L.P.’s portfolio, making the stock its 20th largest position. Alliancebernstein L.P.’s holdings in Copart were worth $2,009,393,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. CreativeOne Wealth LLC lifted its stake in Copart by 106.4% in the third quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock valued at $503,000 after buying an additional 4,951 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Copart by 13.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,277 shares of the business services provider’s stock worth $9,866,000 after acquiring an additional 22,592 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Copart by 12.9% during the third quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Copart during the third quarter worth approximately $761,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock worth $21,667,683 over the last ninety days. 9.68% of the stock is currently owned by company insiders.

Copart Trading Down 0.9 %

Shares of CPRT stock opened at $55.15 on Monday. The company has a market capitalization of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30. The business’s 50 day moving average is $56.33 and its two-hundred day moving average is $56.23. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report 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.