STF Management LP Trims Position in Copart, Inc. (NASDAQ:CPRT)

STF Management LP lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,284 shares of the business services provider’s stock after selling 680 shares during the quarter. STF Management LP’s holdings in Copart were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Rise Advisors LLC purchased a new position in Copart during the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. grew its holdings 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 grew its holdings in shares of Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Copart Trading Down 1.0 %

Shares of NASDAQ CPRT opened at $49.75 on Tuesday. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 35.04 and a beta of 1.27. The business has a 50-day moving average of $51.75 and a 200-day moving average of $53.78. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last issued 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 firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. On average, analysts predict that Copart, Inc. will post 1.54 earnings per share for the current 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.