AQR Capital Management LLC Sells 9,768 Shares of Copart, Inc. (NASDAQ:CPRT)

AQR Capital Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,895 shares of the business services provider’s stock after selling 9,768 shares during the quarter. AQR Capital Management LLC owned 0.06% of Copart worth $32,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CPRT. Sandy Spring Bank raised its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart in the fourth quarter worth approximately $45,000. Curio Wealth LLC purchased a new stake in Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC bought a new stake in Copart during the 4th quarter valued at $54,000. Finally, Eastern Bank increased its holdings in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 640 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of the company’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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock worth $11,401,000 over the last 90 days. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Stock Up 1.2 %

Shares of CPRT opened at $61.22 on Friday. The company has a 50 day moving average of $56.64 and a two-hundred day moving average of $57.31. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a market cap of $59.14 billion, a price-to-earnings ratio of 41.09 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its earnings results 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts expect 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.