Virginia Retirement Systems ET AL Sells 7,200 Shares of Copart, Inc. (NASDAQ:CPRT)

Virginia Retirement Systems ET AL reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,600 shares of the business services provider’s stock after selling 7,200 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.08% of Copart worth $26,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ossiam grew its position in Copart by 32.9% during the 2nd quarter. Ossiam now owns 24,820 shares of the business services provider’s stock worth $3,649,000 after acquiring an additional 6,146 shares during the last quarter. Toroso Investments LLC bought a new stake in Copart during the 2nd quarter worth approximately $350,000. Kensington Investment Counsel LLC grew its position in Copart by 2.5% during the 2nd quarter. Kensington Investment Counsel LLC now owns 14,410 shares of the business services provider’s stock worth $1,900,000 after acquiring an additional 350 shares during the last quarter. Wambolt & Associates LLC grew its position in Copart by 2.7% during the 2nd quarter. Wambolt & Associates LLC now owns 3,094 shares of the business services provider’s stock worth $416,000 after acquiring an additional 80 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Copart by 8.4% during the 2nd quarter. California Public Employees Retirement System now owns 470,029 shares of the business services provider’s stock worth $61,964,000 after acquiring an additional 36,497 shares during the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

Shares of CPRT stock traded up $3.31 during trading hours on Thursday, reaching $143.13. The company had a trading volume of 654 shares, compared to its average volume of 1,040,258. The company has a 50 day moving average of $142.64 and a 200 day moving average of $133.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.04 and a quick ratio of 3.94. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 35.94 and a beta of 1.03. Copart, Inc. has a 1-year low of $101.92 and a 1-year high of $152.75.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, September 7th. The business services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.12. The company had revenue of $748.63 million for the quarter, compared to the consensus estimate of $686.93 million. Copart had a return on equity of 28.62% and a net margin of 34.78%. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 3.92 EPS for the current fiscal year.

In other news, CEO A Jayson Adair sold 170,000 shares of the stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $147.20, for a total value of $25,024,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.61% of the company’s stock.

A number of equities research analysts recently commented on the company. Truist increased their price target on Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Robert W. Baird increased their price target on Copart from $130.00 to $150.00 and gave the stock an “average” rating in a research report on Friday, September 10th. Barrington Research reaffirmed a “market perform” rating on shares of Copart in a report on Wednesday, September 8th. Truist Securities upped their price objective on Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, September 10th. Finally, Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, August 31st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $143.83.

Copart Company 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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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