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

Tidal Investments LLC boosted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 97,846 shares of the business services provider's stock after acquiring an additional 9,522 shares during the period. Tidal Investments LLC's holdings in Copart were worth $5,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its stake in Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock valued at $577,000 after acquiring an additional 175 shares during the period. Sandy Spring Bank raised its stake in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the period. Lindbrook Capital LLC raised its stake in Copart by 3.2% in the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after acquiring an additional 184 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Copart by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 200 shares during the period. Finally, Simmons Bank increased its position in shares of Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider's stock valued at $271,000 after buying an additional 200 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday. Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock valued at $11,401,000 over the last quarter. 9.68% of the stock is owned by corporate insiders.

Copart Stock Down 11.5%

Shares of CPRT stock traded down $6.99 during trading on Friday, hitting $53.67. The company had a trading volume of 20,806,337 shares, compared to its average volume of 4,511,650. The stock's 50-day moving average is $58.90 and its two-hundred day moving average is $58.24. The stock has a market capitalization of $51.85 billion, a price-to-earnings ratio of 36.02 and a beta of 1.20. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Copart's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, research analysts predict 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.