Corebridge Financial Inc. Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Corebridge Financial Inc. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,302 shares of the business services provider’s stock after selling 766 shares during the quarter. Corebridge Financial Inc.’s holdings in Copart were worth $17,866,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sandy Spring Bank increased its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Quarry LP purchased a new position in Copart in the third quarter valued at about $29,000. True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the period. Curio Wealth LLC purchased a new stake in shares of Copart during the 4th quarter worth approximately $52,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In other Copart news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 385,480 shares of company stock worth $21,667,683 over the last three months. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Up 2.7 %

NASDAQ:CPRT opened at $55.06 on Tuesday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a market capitalization of $53.19 billion, a P/E ratio of 36.95 and a beta of 1.30. The firm has a 50-day moving average price of $56.42 and a two-hundred day moving average price of $56.07.

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

Analyst Upgrades and Downgrades

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a 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.