Worldquant Millennium Advisors LLC Has $31.67 Million Position in Copart, Inc. (NASDAQ:CPRT)

Worldquant Millennium Advisors LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 430.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,786 shares of the business services provider's stock after buying an additional 447,683 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.06% of Copart worth $31,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Woodline Partners LP acquired a new stake in shares of Copart during the fourth quarter worth $3,021,000. Sovereign s Capital Management LLC acquired a new position in shares of Copart in the fourth quarter worth $462,000. Tidal Investments LLC raised its stake in shares of Copart by 10.8% during the 4th quarter. Tidal Investments LLC now owns 97,846 shares of the business services provider's stock worth $5,615,000 after purchasing an additional 9,522 shares in the last quarter. Triavera Capital LLC acquired a new position in Copart in the fourth quarter worth approximately $8,797,000. Finally, State of Wyoming lifted its stake in shares of Copart by 58.8% in the 4th quarter. State of Wyoming now owns 8,577 shares of the business services provider's stock valued at $492,000 after purchasing an additional 3,176 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of Copart stock traded down $6.99 during midday trading on Friday, hitting $53.67. 20,806,337 shares of the company were exchanged, compared to its average volume of 4,511,650. The firm has a market cap of $51.85 billion, a P/E 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. The firm has a 50 day simple moving average of $58.90 and a 200-day simple moving average of $58.24.

Copart (NASDAQ:CPRT - Get Free Report) last posted 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of the firm's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CPRT. JPMorgan Chase & Co. dropped their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday. Argus lowered Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

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.