Snowden Capital Advisors LLC Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Snowden Capital Advisors LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 29,133 shares of the business services provider’s stock after selling 1,774 shares during the period. Snowden Capital Advisors LLC’s holdings in Copart were worth $1,672,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CPRT. Barclays PLC raised its stake in shares of Copart by 0.4% during the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after purchasing an additional 21,710 shares during the period. Brookstone Capital Management bought a new stake in shares of Copart in the fourth quarter worth $234,000. Park Avenue Securities LLC increased its stake in shares of Copart by 22.0% in the fourth quarter. Park Avenue Securities LLC now owns 37,315 shares of the business services provider’s stock worth $2,142,000 after buying an additional 6,734 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Copart by 13.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 28,643 shares of the business services provider’s stock worth $1,644,000 after buying an additional 3,411 shares during the last quarter. Finally, Everpar Advisors LLC increased its stake in shares of Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock valued at $11,401,000 over the last 90 days. 9.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Copart Trading Up 1.4%

Shares of NASDAQ:CPRT opened at $63.84 on Friday. The company has a fifty day simple moving average of $58.19 and a 200 day simple moving average of $58.00. The firm has a market cap of $61.68 billion, a PE ratio of 42.85 and a beta of 1.20. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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.