MainStreet Investment Advisors LLC Invests $220,000 in Copart, Inc. (NASDAQ:CPRT)

MainStreet Investment Advisors LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,833 shares of the business services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Norges Bank bought a new stake in shares of Copart during the fourth quarter worth about $682,089,000. Madison Investment Advisors LLC bought a new stake in shares of Copart during the fourth quarter worth about $253,686,000. Bank of New York Mellon Corp grew its holdings in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after purchasing an additional 1,785,741 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred on 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 have sold 200,000 shares of company stock worth $11,401,000 over the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $62.42 on Thursday. The business’s 50 day simple moving average is $57.77 and its 200 day simple moving average is $57.81. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The stock has a market capitalization of $60.30 billion, a PE ratio of 41.89 and a beta of 1.20.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating 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 business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.