Atomi Financial Group Inc. Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Atomi Financial Group Inc. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 26.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 14,199 shares of the business services provider’s stock after selling 4,992 shares during the quarter. Atomi Financial Group Inc.’s holdings in Copart were worth $822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Copart in the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. raised its position in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after buying an additional 234 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new stake in Copart in the 1st quarter valued at $36,000. Fortitude Family Office LLC purchased a new stake in Copart in the 4th quarter valued at $34,000. Finally, Pittenger & Anderson Inc. grew its stake in Copart by 125.8% in the 1st quarter. Pittenger & Anderson Inc. now owns 718 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 400 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Down 1.2 %

Shares of CPRT stock traded down $0.65 during trading hours on Monday, reaching $54.89. The company’s stock had a trading volume of 2,316,059 shares, compared to its average volume of 4,438,151. The stock has a market capitalization of $52.82 billion, a P/E ratio of 39.04 and a beta of 1.28. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The firm’s fifty day simple moving average is $54.19 and its 200 day simple moving average is $53.03.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $51.00.

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.