State Street Corp Sells 7,126 Shares of Copart, Inc. (NASDAQ:CPRT)

State Street Corp reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,826,350 shares of the business services provider’s stock after selling 7,126 shares during the quarter. State Street Corp owned about 3.74% of Copart worth $928,179,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in shares of Copart by 58,845.9% in the 2nd quarter. Bessemer Group Inc. now owns 858,842 shares of the business services provider’s stock valued at $71,515,000 after purchasing an additional 857,385 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Copart by 8.1% in the 2nd quarter. Principal Financial Group Inc. now owns 7,795,422 shares of the business services provider’s stock valued at $649,124,000 after purchasing an additional 584,871 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Copart by 48.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,317,945 shares of the business services provider’s stock valued at $109,745,000 after purchasing an additional 428,641 shares during the last quarter. London Co. of Virginia lifted its stake in shares of Copart by 18.9% in the 2nd quarter. London Co. of Virginia now owns 2,225,531 shares of the business services provider’s stock valued at $185,320,000 after purchasing an additional 354,426 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Copart by 133.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 616,612 shares of the business services provider’s stock valued at $51,345,000 after purchasing an additional 352,496 shares during the last quarter. Hedge funds and other institutional investors own 71.56% of the company’s stock.

Shares of NASDAQ CPRT opened at $114.47 on Friday. The stock’s 50-day moving average is $114.99 and its two-hundred day moving average is $97.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 2.65. Copart, Inc. has a 1-year low of $55.69 and a 1-year high of $130.96. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, November 17th. The business services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Copart had a return on equity of 27.68% and a net margin of 31.73%. Equities research analysts anticipate that Copart, Inc. will post 2.89 earnings per share for the current fiscal year.

Several brokerages have recently commented on CPRT. BidaskClub lowered Copart from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 17th. Truist boosted their price objective on Copart from $117.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, November 12th. Stephens boosted their price objective on Copart from $90.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, August 31st. They noted that the move was a valuation call. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Copart from $88.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $101.20.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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