Copart, Inc. (NASDAQ:CPRT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 375,200 shares of the business services provider’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Copart were worth $21,533,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CPRT. Vanguard Group Inc. increased its holdings in Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after buying an additional 976,909 shares during the period. Principal Financial Group Inc. increased its stake in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. Edgewood Management LLC raised its holdings in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Copart by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 in the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Copart Price Performance

NASDAQ:CPRT opened at $60.45 on Wednesday. The company has a 50 day moving average price of $56.17 and a 200-day moving average price of $56.75. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm has a market cap of $58.40 billion, a price-to-earnings ratio of 40.57 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Copart 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.