Copart, Inc. (NASDAQ:CPRT) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,766 shares of the business services provider’s stock after selling 1,732 shares during the quarter. NewEdge Advisors LLC’s holdings in Copart were worth $1,016,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Copart by 2.6% during the first quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock worth $2,272,369,000 after acquiring an additional 1,009,053 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after purchasing an additional 30,454 shares during the period. Legal & General Group Plc grew its stake in Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of CPRT stock opened at $52.76 on Tuesday. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The firm has a market capitalization of $50.77 billion, a price-to-earnings ratio of 37.15 and a beta of 1.27. The business has a 50 day simple moving average of $51.51 and a 200 day simple moving average of $53.42.

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