Galvin Gaustad & Stein LLC Sells 14,694 Shares of Copart, Inc. (NASDAQ:CPRT)

Galvin Gaustad & Stein LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,073 shares of the business services provider's stock after selling 14,694 shares during the quarter. Copart accounts for about 1.5% of Galvin Gaustad & Stein LLC's holdings, making the stock its 29th largest position. Galvin Gaustad & Stein LLC's holdings in Copart were worth $16,719,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CPRT. Silvercrest Asset Management Group LLC raised its stake in Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider's stock valued at $2,199,000 after purchasing an additional 10,959 shares during the period. Motco raised its position in Copart by 6,085.7% during the first quarter. Motco now owns 10,392 shares of the business services provider's stock valued at $602,000 after buying an additional 10,224 shares during the period. Twin Tree Management LP purchased a new stake in Copart in the 1st quarter worth about $3,877,000. Manning & Napier Advisors LLC acquired a new stake in Copart during the 2nd quarter worth about $109,382,000. Finally, Edgestream Partners L.P. purchased a new position in Copart during the 1st quarter valued at about $644,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.35 during midday trading on Friday, hitting $56.12. 3,186,506 shares of the stock were exchanged, compared to its average volume of 3,849,101. The company has a market capitalization of $54.06 billion, a PE ratio of 40.37 and a beta of 1.27. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58. The business's fifty day simple moving average is $52.44 and its two-hundred day simple moving average is $53.04.

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

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research report 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.