Copart, Inc. (NASDAQ:CPRT) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,086 shares of the business services provider’s stock after selling 202 shares during the quarter. Drive Wealth Management LLC’s holdings in Copart were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CPRT. Edgestream Partners L.P. acquired a new position in Copart during the 1st quarter valued at approximately $644,000. O Shaughnessy Asset Management LLC raised its holdings in Copart by 8.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 72,083 shares of the business services provider’s stock worth $4,175,000 after purchasing an additional 5,445 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in Copart by 262.0% in the first quarter. UniSuper Management Pty Ltd now owns 28,244 shares of the business services provider’s stock worth $1,636,000 after purchasing an additional 20,442 shares during the period. Lake Street Advisors Group LLC boosted its stake in Copart by 10.3% during the first quarter. Lake Street Advisors Group LLC now owns 9,923 shares of the business services provider’s stock valued at $575,000 after buying an additional 930 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in shares of Copart by 24.5% in the 1st quarter. Pitcairn Co. now owns 10,889 shares of the business services provider’s stock worth $631,000 after purchasing an additional 2,143 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT opened at $56.63 on Tuesday. Copart, Inc. has a one year low of $46.21 and a one year high of $58.58. The company has a 50-day moving average of $53.13 and a two-hundred day moving average of $53.11. The stock has a market cap of $54.56 billion, a price-to-earnings ratio of 40.74 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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 research report on Thursday, September 5th.

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.