Tredje AP fonden Sells 727,122 Shares of Copart, Inc. (NASDAQ:CPRT)

Tredje AP fonden trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 93.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,544 shares of the business services provider’s stock after selling 727,122 shares during the quarter. Tredje AP fonden’s holdings in Copart were worth $2,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Copart in the first quarter valued at about $28,000. Pinnacle Bancorp Inc. increased its position in shares of Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Crewe Advisors LLC increased its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Copart by 283.3% in the second 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 grew its position in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Copart Stock Up 1.6 %

Shares of CPRT opened at $51.80 on Friday. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The stock has a market cap of $49.85 billion, a price-to-earnings ratio of 36.48 and a beta of 1.27. The business has a 50-day simple moving average of $51.61 and a two-hundred day simple moving average of $53.74.

Copart (NASDAQ:CPRT) last released its 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Copart 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.