Sompo Asset Management Co. Ltd. Has $539,000 Position in Copart, Inc. (NASDAQ:CPRT)

Sompo Asset Management Co. Ltd. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,400 shares of the business services provider’s stock after selling 2,420 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Copart were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Copart during the 4th quarter worth about $682,089,000. Madison Investment Advisors LLC bought a new position in Copart during the fourth quarter valued at approximately $253,686,000. Bank of New York Mellon Corp lifted its stake in Copart by 23.3% in 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 acquiring an additional 3,667,534 shares during the last quarter. Edgewood Management LLC grew its position in Copart by 14.1% in 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 acquiring an additional 2,907,405 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, Director Steven D. Cohan sold 5,003 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 over the last ninety days. Company insiders own 9.68% of the company’s stock.

Copart Stock Up 1.1 %

Shares of Copart stock opened at $61.10 on Thursday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a 50 day moving average price of $56.26 and a two-hundred day moving average price of $57.02. The stock has a market capitalization of $59.03 billion, a P/E ratio of 41.01 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, Argus cut shares of 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.