Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,955 shares of the business services provider’s stock after acquiring an additional 627 shares during the period. Summit Trail Advisors LLC’s holdings in Copart were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Copart in the first quarter valued at about $28,000. Pinnacle Bancorp Inc. increased its holdings in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after buying an additional 234 shares during the period. Crewe Advisors LLC raised its position in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. raised its position in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Stock Up 0.5 %

Copart stock opened at $51.69 on Tuesday. The business’s 50-day moving average price is $51.41 and its 200 day moving average price is $53.68. The firm has a market cap of $49.74 billion, a price-to-earnings ratio of 36.40 and a beta of 1.27. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $0.34 EPS. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Copart, Inc. will post 1.54 EPS for the current 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.