Norden Group LLC Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Norden Group LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,813 shares of the business services provider’s stock after selling 2,426 shares during the quarter. Norden Group LLC’s holdings in Copart were worth $965,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRT. Rise Advisors LLC purchased a new position in Copart during the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its position in shares of Copart by 79.6% during 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 last quarter. Crewe Advisors LLC increased its holdings in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Versant Capital Management Inc increased its holdings 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 valued at $32,000 after acquiring an additional 492 shares during the period. Finally, Indiana Trust & Investment Management CO acquired a new stake in Copart during the 1st quarter worth $36,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird dropped 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.00.

Copart Price Performance

Shares of NASDAQ CPRT opened at $49.46 on Friday. The stock has a fifty day moving average price of $52.29 and a 200 day moving average price of $53.85. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market cap of $47.60 billion, a PE ratio of 34.83 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.34 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.43 earnings per share 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.