Thoroughbred Financial Services LLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Thoroughbred Financial Services LLC decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,910 shares of the business services provider’s stock after selling 815 shares during the period. Thoroughbred Financial Services LLC’s holdings in Copart were worth $1,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sandy Spring Bank boosted its holdings in shares of 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 purchasing an additional 176 shares during the period. Quarry LP bought a new stake in Copart during the 3rd quarter valued at $29,000. Curio Wealth LLC purchased a new stake in shares of Copart in the 4th quarter worth $52,000. Continuum Advisory LLC grew its position in shares of Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Copart during the fourth quarter valued at $54,000. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the company’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 disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Down 3.8 %

Shares of NASDAQ:CPRT opened at $54.51 on Friday. The firm has a 50 day moving average of $56.23 and a 200 day moving average of $56.38. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.