Copart, Inc. (NASDAQ:CPRT) Stock Position Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 16.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 48,300 shares of the business services provider’s stock after selling 9,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Copart were worth $3,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cordasco Financial Network lifted its holdings in Copart by 170.7% during the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after buying an additional 297 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $34,000. Meridian Wealth Management LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $40,000. Quadrant Capital Group LLC lifted its holdings in shares of Copart by 170.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock worth $67,000 after purchasing an additional 744 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $101,000. 83.83% of the stock is currently owned by institutional investors.

Shares of NASDAQ CPRT traded down $0.02 during mid-day trading on Friday, hitting $75.62. The company had a trading volume of 940,327 shares, compared to its average volume of 1,128,681. The firm has a market cap of $17.19 billion, a PE ratio of 43.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.82. Copart, Inc. has a 12 month low of $44.61 and a 12 month high of $79.74. The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.25. The firm’s 50 day simple moving average is $76.20.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $553.12 million for the quarter, compared to the consensus estimate of $535.62 million. Copart had a return on equity of 31.33% and a net margin of 28.12%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Equities analysts anticipate that Copart, Inc. will post 2.21 earnings per share for the current year.

Several brokerages recently issued reports on CPRT. SunTrust Banks raised their price target on Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Barrington Research reissued a “hold” rating on shares of Copart in a report on Friday, May 24th. BidaskClub downgraded Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Guggenheim downgraded Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target on the stock. in a report on Friday, May 17th. Finally, Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Copart has a consensus rating of “Hold” and a consensus price target of $66.77.

In other Copart news, CEO A Jayson Adair sold 43,997 shares of Copart stock in a transaction on Friday, June 14th. The stock was sold at an average price of $74.72, for a total transaction of $3,287,455.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Friday, May 24th. The shares were sold at an average price of $71.00, for a total value of $3,550,000.00. Following the sale, the director now directly owns 50,000 shares in the company, valued at approximately $3,550,000. The disclosure for this sale can be found here. Insiders have sold a total of 423,458 shares of company stock worth $31,198,755 in the last ninety days. 15.99% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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