CIBC Private Wealth Group LLC Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

CIBC Private Wealth Group LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 802,257 shares of the business services provider’s stock after selling 20,580 shares during the period. CIBC Private Wealth Group LLC’s holdings in Copart were worth $45,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Sandy Spring Bank lifted 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 acquiring an additional 176 shares during the last quarter. Lindbrook Capital LLC boosted its holdings 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 worth $345,000 after purchasing an additional 184 shares during the period. Everpar Advisors LLC boosted its holdings in shares of Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after purchasing an additional 199 shares during the period. Oregon Public Employees Retirement Fund raised its holdings 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 valued at $4,314,000 after buying an additional 200 shares during the period. Finally, Simmons Bank lifted 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 worth $271,000 after buying an additional 200 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 385,480 shares of company stock valued at $21,667,683 in the last three months. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

Shares of NASDAQ 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 has a market cap of $53.28 billion, a price-to-earnings ratio of 37.01 and a beta of 1.30. The business’s 50 day moving average price is $56.33 and its 200-day moving average price is $56.23.

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, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

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.