Copart, Inc. (NASDAQ:CPRT) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,008 shares of the business services provider’s stock after selling 445 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Copart were worth $343,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CPRT. Nordea Investment Management AB lifted its stake in shares of Copart by 64.1% during the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after purchasing an additional 563,233 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after purchasing an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp lifted its stake in shares of Copart by 57.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 23,304 shares during the period. Artemis Investment Management LLP raised its position in shares of Copart by 29.0% in the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after buying an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of Copart by 72.5% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after buying an additional 2,618 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 1.5 %

Shares of NASDAQ CPRT opened at $53.20 on Friday. Copart, Inc. has a 12-month low of $38.35 and a 12-month high of $58.58. The company has a market cap of $51.15 billion, a P/E ratio of 38.27 and a beta of 1.22. The stock has a fifty day moving average price of $54.31 and a 200 day moving average price of $49.98.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPRT. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders sold 985,000 shares of company stock worth $55,519,950. Corporate insiders own 10.23% of the company’s stock.

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.