Taikang Asset Management Hong Kong Co Ltd Sells 35,416 Shares of Copart, Inc. (NASDAQ:CPRT)

Taikang Asset Management Hong Kong Co Ltd cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,416 shares of the business services provider’s stock after selling 35,416 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Copart were worth $2,033,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sandy Spring Bank raised its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Quarry LP bought a new stake in Copart in the 3rd quarter valued at about $29,000. True Wealth Design LLC raised its stake in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. Curio Wealth LLC bought a new position in Copart in the fourth quarter worth approximately $52,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Copart in the fourth quarter valued at approximately $54,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

NASDAQ:CPRT opened at $55.06 on Tuesday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a market cap of $53.19 billion, a PE ratio of 36.95 and a beta of 1.30. The firm has a 50-day moving average of $56.42 and a 200-day moving average of $56.07.

Copart (NASDAQ:CPRT) last issued 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on 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. In the last three months, insiders sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is owned by 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.