Fmr LLC Sells 652,918 Shares of Copart, Inc. (NASDAQ:CPRT)

Fmr LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,124,013 shares of the business services provider’s stock after selling 652,918 shares during the period. Fmr LLC’s holdings in Copart were worth $740,098,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CPRT. B. Riley Wealth Advisors Inc. lifted its position in Copart by 17.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 26,291 shares of the business services provider’s stock valued at $1,523,000 after purchasing an additional 3,843 shares during the last quarter. Virtu Financial LLC bought a new stake in Copart during the first quarter valued at approximately $405,000. Atria Investments Inc lifted its position in Copart by 6.6% during the first quarter. Atria Investments Inc now owns 97,044 shares of the business services provider’s stock valued at $5,621,000 after purchasing an additional 6,026 shares during the last quarter. Cetera Investment Advisers lifted its position in Copart by 162.9% during the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after purchasing an additional 114,263 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in Copart by 72.0% during the first quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider’s stock valued at $2,072,000 after purchasing an additional 14,971 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Shares of CPRT opened at $63.51 on Friday. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The firm has a 50 day moving average price of $54.58 and a 200-day moving average price of $53.37. The firm has a market cap of $61.18 billion, a price-to-earnings ratio of 44.73 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued 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 18.96% and a net margin of 31.92%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on CPRT shares. JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

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.