Copart, Inc. (NASDAQ:CPRT) Position Trimmed by Comerica Bank

Comerica Bank reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,255 shares of the business services provider’s stock after selling 26,525 shares during the period. Comerica Bank’s holdings in Copart were worth $14,190,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares during the period. Barclays PLC lifted its position in Copart by 0.4% in the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock worth $316,639,000 after purchasing an additional 21,710 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Copart during the 3rd quarter valued at $317,000. Tidal Investments LLC raised its stake in shares of Copart by 7.8% in the 3rd quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider’s stock worth $4,628,000 after buying an additional 6,421 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in Copart by 6.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider’s stock valued at $5,484,000 after acquiring an additional 6,385 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 in the last quarter. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 0.9 %

Shares of CPRT stock opened at $60.50 on Friday. The company has a market capitalization of $58.45 billion, a price-to-earnings ratio of 40.60 and a beta of 1.22. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The stock’s fifty day simple moving average is $56.55 and its 200-day simple moving average is $57.27.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating 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%. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Copart Company 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.