Global Retirement Partners LLC Sells 917 Shares of Copart, Inc. (NASDAQ:CPRT)

Global Retirement Partners LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,459 shares of the business services provider’s stock after selling 917 shares during the period. Global Retirement Partners LLC’s holdings in Copart were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Principal Financial Group Inc. boosted its stake in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. State Street Corp boosted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after acquiring an additional 120,939 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the period. Geode Capital Management LLC raised its position in shares of Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after acquiring an additional 291,580 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Copart by 0.4% in the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock worth $316,639,000 after acquiring an additional 21,710 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Price Performance

Shares of NASDAQ CPRT opened at $56.61 on Monday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a 50-day moving average of $57.97 and a 200 day moving average of $55.73. The stock has a market cap of $54.55 billion, a P/E ratio of 38.00 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 SEC, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were 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. Over the last three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. 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.