STF Management LP Sells 1,300 Shares of Copart, Inc. (NASDAQ:CPRT)

STF Management LP cut its stake in Copart, Inc. (NASDAQ:CPRT) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,984 shares of the business services provider’s stock after selling 1,300 shares during the quarter. STF Management LP’s holdings in Copart were worth $733,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPRT. Jensen Investment Management Inc. increased its position in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. grew its position in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Copart in the 2nd quarter valued at $109,382,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT opened at $56.97 on Friday. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The stock has a market capitalization of $54.88 billion, a price-to-earnings ratio of 40.98 and a beta of 1.27. The stock has a fifty day moving average of $53.54 and a 200-day moving average of $53.16.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, equities analysts forecast that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several analyst reports. 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 report on Tuesday. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note 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.