Tidal Investments LLC Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Tidal Investments LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,324 shares of the business services provider’s stock after purchasing an additional 6,421 shares during the period. Tidal Investments LLC’s holdings in Copart were worth $4,628,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CPRT. Cadence Bank raised its position in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares in the last quarter. Spinnaker Trust raised its holdings in Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares in the last quarter. Values First Advisors Inc. lifted its position in Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares during the period. Duncan Williams Asset Management LLC boosted its holdings in shares of Copart by 1.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after buying an additional 203 shares in the last quarter. Finally, Burney Co. grew its position in shares of Copart by 1.4% in the 2nd quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after buying an additional 206 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CPRT shares. Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $61.23 on Friday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The firm’s 50-day moving average is $57.01 and its 200 day moving average is $54.03. The stock has a market cap of $59.00 billion, a price-to-earnings ratio of 43.12 and a beta of 1.31.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.