1832 Asset Management L.P. Sells 1,566 Shares of Copart, Inc. (NASDAQ:CPRT)

1832 Asset Management L.P. lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,539 shares of the business services provider’s stock after selling 1,566 shares during the quarter. 1832 Asset Management L.P.’s holdings in Copart were worth $4,362,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of Copart during the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. raised its position in Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares during the period. Crewe Advisors LLC raised its position in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. grew its position in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Price Performance

CPRT opened at $52.45 on Wednesday. The company has a 50 day simple moving average of $51.38 and a two-hundred day simple moving average of $53.66. The firm has a market cap of $50.47 billion, a P/E ratio of 36.94 and a beta of 1.27. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Copart Company 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.