Clearbridge Investments LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Clearbridge Investments LLC lowered its position in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,014,389 shares of the business services provider’s stock after selling 60,938 shares during the period. Clearbridge Investments LLC’s holdings in Copart were worth $115,606,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPRT. Sandy Spring Bank lifted its stake 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 buying an additional 176 shares in the last quarter. Quarry LP bought a new position in shares of Copart during the third quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of Copart during the fourth quarter valued at $52,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter valued at about $54,000. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

CPRT stock opened at $55.15 on Monday. The firm has a 50-day simple moving average of $56.33 and a two-hundred day simple moving average of $56.23. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30.

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

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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. Over the last ninety days, insiders sold 385,480 shares of company stock worth $21,667,683. 9.68% of the stock is owned by insiders.

Copart Company 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.