Tidal Investments LLC Purchases 6,421 Shares of Copart, Inc. (NASDAQ:CPRT)

Tidal Investments LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 7.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,324 shares of the business services provider’s stock after acquiring an additional 6,421 shares during the quarter. Tidal Investments LLC’s holdings in Copart were worth $4,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Optimum Investment Advisors lifted its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank bought a new position in Copart in the third quarter worth approximately $29,000. Quarry LP purchased a new position in shares of Copart during the 3rd quarter worth $29,000. Crewe Advisors LLC grew its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $61.23 on Friday. The stock has a market cap of $59.00 billion, a PE ratio of 43.12 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 fifty day moving average price of $57.01 and a 200-day moving average price of $54.03.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.15 billion during 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%. Copart’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

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

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.