TD Asset Management Inc. Sells 341,927 Shares of Copart, Inc. (NASDAQ:CPRT)

TD Asset Management Inc. decreased its position in Copart, Inc. (NASDAQ:CPRT) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,183,710 shares of the business services provider’s stock after selling 341,927 shares during the quarter. TD Asset Management Inc. owned approximately 0.43% of Copart worth $240,103,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sandy Spring Bank grew its position in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Quarry LP bought a new position in shares of Copart in the third quarter valued at approximately $29,000. True Wealth Design LLC increased its position in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the last quarter. Curio Wealth LLC bought a new stake in Copart during the fourth quarter worth $52,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Copart in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction 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 90 days, insiders sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Copart Stock Up 2.7 %

Copart stock opened at $55.06 on Tuesday. The company has a market capitalization of $53.19 billion, a P/E ratio of 36.95 and a beta of 1.30. The firm has a 50 day moving average price of $56.42 and a 200-day moving average price of $56.07. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

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.