Natixis Sells 417,133 Shares of Copart, Inc. (NASDAQ:CPRT)

Natixis reduced its position in Copart, Inc. (NASDAQ:CPRT) by 98.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,488 shares of the business services provider’s stock after selling 417,133 shares during the quarter. Natixis’ holdings in Copart were worth $492,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CPRT. Rise Advisors LLC bought a new stake in shares of Copart in the first quarter worth about $28,000. Pinnacle Bancorp Inc. grew its position in Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Copart in the first quarter worth approximately $36,000. Trust Co. of Vermont purchased a new stake in shares of Copart during the fourth quarter valued at approximately $38,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Copart during the fourth quarter valued at approximately $40,000. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Copart currently has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart Stock Up 1.2 %

Copart stock opened at $51.05 on Friday. The business has a 50-day simple moving average of $53.64 and a two-hundred day simple moving average of $53.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The company has a market cap of $49.13 billion, a P/E ratio of 35.95 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. Research analysts anticipate that Copart, Inc. will post 1.43 EPS for the current fiscal year.

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.