Clearbridge Investments LLC Sells 60,938 Shares of Copart, Inc. (NASDAQ:CPRT)

Clearbridge Investments LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,014,389 shares of the business services provider’s stock after selling 60,938 shares during the period. Clearbridge Investments LLC owned about 0.21% of Copart worth $115,606,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sandy Spring Bank boosted its stake in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Copart by 3.2% in the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 184 shares in the last quarter. Everpar Advisors LLC grew its holdings in shares of Copart by 4.3% during the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 199 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after purchasing an additional 200 shares in the last quarter. Finally, Simmons Bank boosted its position in Copart by 4.4% in the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock valued at $271,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $55.15 on Monday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The company’s 50 day moving average price is $56.33 and its two-hundred day moving average price is $56.23. The firm has a market capitalization of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 385,480 shares of company stock valued at $21,667,683 over the last ninety days. 9.68% of the stock is owned by company insiders.

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.