Sit Investment Associates Inc. Has $3.89 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Sit Investment Associates Inc. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 67,723 shares of the business services provider’s stock after selling 1,650 shares during the quarter. Sit Investment Associates Inc.’s holdings in Copart were worth $3,887,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CPRT. Sandy Spring Bank boosted its stake in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares in the last quarter. Quarry LP acquired a new stake in shares of Copart during the 3rd quarter valued at about $29,000. Curio Wealth LLC bought a new stake in Copart in the fourth quarter valued at about $52,000. Retirement Wealth Solutions LLC acquired a new position in Copart in the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC lifted its stake in Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after purchasing an additional 452 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, 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 value of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

CPRT opened at $54.51 on Monday. The firm has a market cap of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. The firm’s 50-day simple moving average is $56.23 and its 200-day simple moving average is $56.45. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The company 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%. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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