Solidarity Wealth LLC Acquires New Position in Copart, Inc. (NASDAQ:CPRT)

Solidarity Wealth LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRTFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,600 shares of the business services provider’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Copart by 100.6% during the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after purchasing an additional 48,891,984 shares in the last quarter. Norges Bank bought a new position in shares of Copart during the fourth quarter valued at approximately $463,262,000. Wellington Management Group LLP raised its holdings in shares of Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. grew its position in Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after acquiring an additional 7,666,881 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after purchasing an additional 7,122,991 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. lifted their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.00.

Get Our Latest Report on Copart

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Corporate insiders own 10.23% of the company’s stock.

Copart Stock Performance

CPRT stock traded up $0.52 on Thursday, hitting $52.66. 598,718 shares of the company’s stock were exchanged, compared to its average volume of 4,396,980. The firm has a 50 day moving average price of $55.29 and a two-hundred day moving average price of $51.96. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The stock has a market cap of $50.67 billion, a P/E ratio of 36.72 and a beta of 1.22.

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

About Copart

(Free Report)

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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