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

Fmr LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,124,013 shares of the business services provider’s stock after selling 652,918 shares during the period. Fmr LLC owned 1.47% of Copart worth $740,098,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. WASHINGTON TRUST Co increased its holdings in Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after buying an additional 200 shares during the last quarter. Spinnaker Trust increased its holdings in Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after buying an additional 200 shares during the last quarter. Values First Advisors Inc. increased its holdings in Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after buying an additional 201 shares during the last quarter. Duncan Williams Asset Management LLC increased its holdings in Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after buying an additional 203 shares during the last quarter. Finally, Burney Co. increased its holdings in Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after buying an additional 206 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 0.5 %

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

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.34 earnings per share. Copart’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CPRT shares. JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note 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.