Centiva Capital LP Lowers Stock Position in Copart, Inc. (NASDAQ:CPRT)

Centiva Capital LP reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 63.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,886 shares of the business services provider’s stock after selling 60,076 shares during the quarter. Centiva Capital LP’s holdings in Copart were worth $1,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Advisors LLC increased its stake in Copart by 72.0% in the 1st quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider’s stock valued at $2,072,000 after purchasing an additional 14,971 shares in the last quarter. Mather Group LLC. raised its position in Copart by 5.8% during the second quarter. Mather Group LLC. now owns 10,141 shares of the business services provider’s stock worth $587,000 after acquiring an additional 560 shares during the last quarter. CWM LLC lifted its holdings in shares of Copart by 1.2% in the second quarter. CWM LLC now owns 30,242 shares of the business services provider’s stock valued at $1,638,000 after purchasing an additional 359 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Copart by 33.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,923 shares of the business services provider’s stock worth $321,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its stake in Copart by 2.6% in the 2nd quarter. Simplicity Wealth LLC now owns 17,620 shares of the business services provider’s stock valued at $954,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $62.24 on Wednesday. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The firm has a 50 day moving average price of $55.26 and a 200 day moving average price of $53.54.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird cut their price objective 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.

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.