Man Group plc Trims Holdings in Copart, Inc. (NASDAQ:CPRT)

Man Group plc lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 875,469 shares of the business services provider’s stock after selling 101,561 shares during the quarter. Man Group plc owned 0.09% of Copart worth $50,243,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Copart by 1.0% during 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 last quarter. Edgewood Management LLC raised its stake in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares during the last quarter. Capital World Investors increased its position in Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock worth $1,225,502,000 after purchasing an additional 169,354 shares during the period. Bank of New York Mellon Corp increased its position in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC increased its position in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after purchasing an additional 408,677 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Up 0.0%

NASDAQ:CPRT opened at $62.42 on Thursday. The business’s 50 day moving average is $57.77 and its two-hundred day moving average is $57.81. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market cap of $60.30 billion, a PE ratio of 41.89 and a beta of 1.20.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Copart

In related news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the firm’s stock in a transaction dated 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 valued at $11,401,000 in the last three months. 9.68% of the stock is currently owned by corporate insiders.

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.