Los Angeles Capital Management LLC Trims Holdings in Copart, Inc. (NASDAQ:CPRT)

Los Angeles Capital Management LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 98.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,447 shares of the business services provider’s stock after selling 331,984 shares during the period. Los Angeles Capital Management LLC’s holdings in Copart were worth $241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Copart during the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. raised its stake in Copart by 79.6% during the 1st 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 stake 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 acquiring an additional 280 shares during the period. Versant Capital Management Inc raised 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 worth $32,000 after acquiring an additional 492 shares during the period. Finally, Indiana Trust & Investment Management CO bought a new stake in Copart during the 1st quarter worth approximately $36,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price 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 Performance

CPRT stock opened at $50.23 on Monday. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The company’s fifty day moving average price is $51.85 and its 200-day moving average price is $53.80. The company has a market capitalization of $48.34 billion, a PE ratio of 35.37 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 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $0.34 EPS. Copart’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal 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.