Ballentine Partners LLC Sells 539 Shares of Copart, Inc. (NASDAQ:CPRT)

Ballentine Partners LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,606 shares of the business services provider’s stock after selling 539 shares during the quarter. Ballentine Partners LLC’s holdings in Copart were worth $1,447,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Optimum Investment Advisors raised its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in shares of Copart during the 3rd quarter valued at $29,000. Crewe Advisors LLC grew its holdings in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. raised its position in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $51.71 on Friday. The firm has a market cap of $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27. The business’s 50 day moving average price is $52.30 and its 200-day moving average price is $53.15. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

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

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their target price on 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.