Peregrine Capital Management LLC Sells 381,428 Shares of Copart, Inc. (NASDAQ:CPRT)

Peregrine Capital Management LLC decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 99.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,210 shares of the business services provider’s stock after selling 381,428 shares during the period. Peregrine Capital Management LLC’s holdings in Copart were worth $258,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. World Asset Management Inc lifted its holdings in shares of Copart by 1.4% during the second quarter. World Asset Management Inc now owns 13,060 shares of the business services provider’s stock valued at $976,000 after acquiring an additional 178 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Copart by 6.5% during the second quarter. ETF Managers Group LLC now owns 2,992 shares of the business services provider’s stock valued at $219,000 after acquiring an additional 182 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Copart by 5.5% during the third quarter. Wealthfront Advisers LLC now owns 3,728 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 194 shares during the period. Hartford Investment Management Co. lifted its holdings in shares of Copart by 1.0% during the second quarter. Hartford Investment Management Co. now owns 22,136 shares of the business services provider’s stock valued at $1,654,000 after acquiring an additional 230 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Copart by 0.5% during the second quarter. Comerica Bank now owns 43,617 shares of the business services provider’s stock valued at $3,360,000 after acquiring an additional 233 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub cut Copart from a “hold” rating to a “sell” rating in a report on Saturday. Barrington Research reissued a “hold” rating on shares of Copart in a report on Wednesday, September 11th. Robert W. Baird set a $85.00 price target on Copart and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Guggenheim raised Copart from a “neutral” rating to a “buy” rating and set a $93.00 price target for the company in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $80.40.

Shares of Copart stock traded down $0.16 during trading on Friday, reaching $81.46. The company’s stock had a trading volume of 1,541,200 shares, compared to its average volume of 1,340,618. The company has a current ratio of 2.44, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $81.80 and a two-hundred day moving average price of $75.82. Copart, Inc. has a one year low of $44.61 and a one year high of $85.31. The stock has a market capitalization of $19.11 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $542.60 million for the quarter, compared to analyst estimates of $517.84 million. Copart had a return on equity of 32.83% and a net margin of 28.98%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 2.67 EPS for the current fiscal year.

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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