SG Americas Securities LLC Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

SG Americas Securities LLC reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 51.4% in Q1, now holding 50,547 shares valued at $2.86 million. Other institutional investors have also adjusted their positions, with Sandy Spring Bank increasing its stake by 59.5%. Analyst ratings have shifted, with JPMorgan lowering its target price from $60 to $55. Copart's shares opened at $48.59, with a market cap of $46.98 billion and a PE ratio of 32.61. The company reported $0.42 EPS for the last quarter, meeting estimates, with revenue of $1.21 billion.

SG Americas Securities LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 51.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,547 shares of the business services provider's stock after selling 53,468 shares during the quarter. SG Americas Securities LLC's holdings in Copart were worth $2,860,000 as of its most recent SEC filing.

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A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sandy Spring Bank lifted its stake in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the period. Sunbelt Securities Inc. purchased a new stake in Copart during the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart during the 4th quarter valued at approximately $45,000. Versant Capital Management Inc boosted its position in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after acquiring an additional 831 shares during the last quarter. Finally, Curio Wealth LLC bought a new stake in Copart in the fourth quarter worth $52,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPRT has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

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Insider Buying and Selling

In other news, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,000 shares of company stock valued at $11,401,000. Corporate insiders own 9.68% of the company's stock.

Copart Trading Down 2.8%

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Shares of NASDAQ:CPRT opened at $48.59 on Friday. The company has a market capitalization of $46.98 billion, a PE ratio of 32.61 and a beta of 1.10. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The business has a 50 day moving average of $57.58 and a two-hundred day moving average of $57.47.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

(Free Report)

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.

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