Copart, Inc. (NASDAQ:CPRT) Shares Sold by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,268 shares of the business services provider’s stock after selling 2,700 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Copart were worth $433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Rise Advisors LLC purchased a new position in Copart during the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. lifted 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 purchasing an additional 234 shares in the last quarter. Crewe Advisors LLC boosted its stake in shares of Copart by 98.6% in the second 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 period. Meeder Asset Management Inc. grew 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 valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased 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 buying an additional 492 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

Shares of CPRT opened at $55.84 on Thursday. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58. The stock has a market capitalization of $53.73 billion, a PE ratio of 39.32 and a beta of 1.27. The stock has a 50-day simple moving average of $51.64 and a 200-day simple moving average of $53.42.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts predict 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.