Geode Capital Management LLC Has $1.10 Billion Position in Copart, Inc. (NASDAQ:CPRT)

Geode Capital Management LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,172,603 shares of the business services provider’s stock after purchasing an additional 408,677 shares during the period. Geode Capital Management LLC’s holdings in Copart were worth $1,097,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Copart by 12.9% in the third quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock valued at $2,061,000 after purchasing an additional 4,500 shares in the last quarter. Edgestream Partners L.P. bought a new position in Copart in the 3rd quarter worth approximately $761,000. Kestra Investment Management LLC acquired a new position in Copart during the 3rd quarter worth $333,000. Finally, Benjamin Edwards Inc. boosted its position in Copart by 3,878.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 38,069 shares of the business services provider’s stock valued at $1,995,000 after buying an additional 37,112 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT opened at $57.21 on Wednesday. The company’s 50 day simple moving average is $56.32 and its 200 day simple moving average is $56.33. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market capitalization of $55.27 billion, a P/E ratio of 38.40 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 quarter, insiders have sold 385,480 shares of company stock worth $21,667,683. Insiders own 9.68% of the company’s stock.

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.