Y Intercept Hong Kong Ltd Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Y Intercept Hong Kong Ltd cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 63.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,957 shares of the business services provider's stock after selling 46,501 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Copart were worth $1,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Copart during the first quarter worth about $26,000. Sunbelt Securities Inc. purchased a new stake in shares of Copart during the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Copart in the fourth quarter valued at approximately $45,000. Versant Capital Management Inc grew its position in Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after acquiring an additional 831 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in Copart by 51.3% in the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock valued at $51,000 after purchasing an additional 281 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT stock traded up $0.42 on Friday, hitting $46.69. The stock had a trading volume of 4,690,050 shares, compared to its average volume of 7,125,283. The company's 50 day moving average price is $49.89 and its 200-day moving average price is $54.94. Copart, Inc. has a 1 year low of $45.52 and a 1 year high of $64.38. The firm has a market capitalization of $45.15 billion, a P/E ratio of 30.72 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Stephens started coverage on shares of Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price for the company. Finally, Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th.

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.