Rockefeller Capital Management L.P. Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Rockefeller Capital Management L.P. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,855 shares of the business services provider’s stock after selling 4,002 shares during the period. Rockefeller Capital Management L.P.’s holdings in Copart were worth $3,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Cadence Bank boosted its holdings in shares of Copart by 0.6% in the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after buying an additional 178 shares during the last quarter. WASHINGTON TRUST Co increased its position in Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after buying an additional 200 shares in the last quarter. Spinnaker Trust raised its stake in shares of Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after buying an additional 200 shares during the period. Values First Advisors Inc. lifted its position in shares of Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares in the last quarter. Finally, Duncan Williams Asset Management LLC increased its holdings in Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $61.91 on Friday. The stock has a 50 day moving average price of $55.68 and a 200 day moving average price of $53.66. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The firm has a market capitalization of $59.65 billion, a P/E ratio of 43.60 and a beta of 1.31.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPRT. JPMorgan Chase & Co. boosted their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird cut their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

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.