Davidson Kahn Capital Management LLC Sells 69,903 Shares of Copart, Inc. $CPRT

Davidson Kahn Capital Management LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 61.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,748 shares of the business services provider's stock after selling 69,903 shares during the quarter. Davidson Kahn Capital Management LLC's holdings in Copart were worth $1,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Lantern Wealth Advisors LLC grew its holdings in shares of Copart by 5.9% during the third quarter. Lantern Wealth Advisors LLC now owns 14,440 shares of the business services provider's stock valued at $394,000 after buying an additional 800 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Copart by 2.8% during the third quarter. Capital Investment Advisors LLC now owns 60,920 shares of the business services provider's stock valued at $1,662,000 after purchasing an additional 1,654 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Copart during the 3rd quarter valued at $802,000. WASHINGTON TRUST Co increased its holdings in Copart by 0.4% during the 3rd quarter. WASHINGTON TRUST Co now owns 152,397 shares of the business services provider's stock worth $4,157,000 after purchasing an additional 642 shares during the period. Finally, Studio Investment Management LLC boosted its position in Copart by 6.9% during the third quarter. Studio Investment Management LLC now owns 11,471 shares of the business services provider's stock valued at $313,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CPRT. Stephens reissued an "equal weight" rating and issued a $35.00 price objective on shares of Copart in a report on Thursday, August 20th. Barclays set a $25.00 price objective on Copart and gave the company an "underweight" rating in a research note on Wednesday, August 26th. Barrington Research upgraded shares of Copart from a "market perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Friday, September 11th. Freedom Broker dropped their price objective on Copart from $39.00 to $36.00 and set a "buy" rating for the company in a report on Monday, September 14th. Finally, HSBC cut Copart from a "buy" rating to a "hold" rating and set a $36.00 price target on the stock. in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Copart presently has an average rating of "Moderate Buy" and an average price target of $37.80.

Insider Buying and Selling at Copart

In other Copart news, Director Diane Morefield sold 20,000 shares of the firm's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total transaction of $553,200.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $29.15 on Tuesday. The company has a market capitalization of $27.00 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.42 and a beta of 1.06. Copart, Inc. has a 1 year low of $25.72 and a 1 year high of $44.79. The business's 50 day simple moving average is $29.84 and its 200 day simple moving average is $32.63.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Copart, Inc. will post 1.63 EPS for the current fiscal year.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.

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