Edgewood Management LLC Raises Stake in Copart, Inc. (NASDAQ:CPRT)

Edgewood Management LLC grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,463,118 shares of the business services provider’s stock after acquiring an additional 2,907,405 shares during the quarter. Copart accounts for approximately 3.9% of Edgewood Management LLC’s holdings, making the stock its 15th biggest holding. Edgewood Management LLC owned approximately 2.44% of Copart worth $1,346,548,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its position in Copart by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after purchasing an additional 8,300 shares during the period. National Pension Service increased its holdings in shares of Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after buying an additional 48,334 shares during the period. Tsai Capital Corp lifted its stake in shares of Copart by 13.3% in the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after acquiring an additional 7,230 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Copart during the 4th quarter valued at about $3,962,000. Finally, Sanctuary Advisors LLC grew its position in Copart by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after acquiring an additional 9,222 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 3.8 %

CPRT stock opened at $54.51 on Friday. The stock has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. The firm’s 50-day moving average price is $56.23 and its two-hundred day moving average price is $56.42. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last posted its 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. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred 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 own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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