Copart, Inc. (NASDAQ:CPRT) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 15.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,784 shares of the business services provider’s stock after selling 10,677 shares during the period. Mizuho Securities USA LLC’s holdings in Copart were worth $2,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Silvercrest Asset Management Group LLC boosted its stake in Copart by 40.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 10,959 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $109,382,000. Comerica Bank lifted its stake in Copart by 5.9% during the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock valued at $19,473,000 after purchasing an additional 18,605 shares during the last quarter. Kinsale Capital Group Inc. grew its position in Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after buying an additional 13,554 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Copart by 162.9% in the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after buying an additional 114,263 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

CPRT opened at $62.70 on Friday. The company has a market cap of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27. The stock has a 50-day moving average of $53.79 and a 200-day moving average of $53.21. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $62.90.

Copart (NASDAQ:CPRT) last announced its 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on CPRT. Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday.

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.