iA Global Asset Management Inc. Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

iA Global Asset Management Inc. lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,854 shares of the business services provider’s stock after selling 1,812 shares during the period. iA Global Asset Management Inc.’s holdings in Copart were worth $5,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sandy Spring Bank boosted its position in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Quarry LP purchased a new position in Copart in the third quarter worth $29,000. True Wealth Design LLC boosted its position in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Curio Wealth LLC purchased a new position in Copart in the fourth quarter worth $52,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Copart in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of CPRT opened at $53.85 on Friday. The firm has a market cap of $52.02 billion, a PE ratio of 36.14 and a beta of 1.30. The stock’s fifty day moving average price is $56.47 and its two-hundred day moving average price is $55.99. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 315,480 shares of company stock worth $18,007,983 over the last ninety days. 9.68% of the stock is currently 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.