TIAA Trust National Association Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

TIAA Trust National Association lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 62.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 70,290 shares of the business services provider’s stock after selling 119,183 shares during the quarter. TIAA Trust National Association’s holdings in Copart were worth $4,034,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sandy Spring Bank grew its stake in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Quarry LP purchased a new stake in Copart during the 3rd quarter valued at about $29,000. True Wealth Design LLC increased 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 valued at $34,000 after purchasing an additional 608 shares in the last quarter. Curio Wealth LLC purchased a new position in Copart in the fourth quarter worth about $52,000. Finally, Continuum Advisory LLC lifted its stake in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 385,480 shares of company stock worth $21,667,683. 9.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $55.07 on Thursday. The business has a 50-day simple moving average of $56.38 and a two-hundred day simple moving average of $56.10. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 36.96 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, research 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.