Safe Harbor Fiduciary LLC Buys Shares of 28,089 Copart, Inc. (NASDAQ:CPRT)

Safe Harbor Fiduciary LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,089 shares of the business services provider's stock, valued at approximately $1,472,000. Copart comprises approximately 1.4% of Safe Harbor Fiduciary LLC's investment portfolio, making the stock its 17th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. 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 valued at $27,000 after purchasing an additional 300 shares during the period. Eastern Bank acquired a new stake in shares of Copart during the 3rd quarter valued at about $29,000. Quarry LP purchased a new position in shares of Copart in the 3rd quarter valued at about $29,000. Crewe Advisors LLC raised its holdings in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after purchasing an additional 280 shares during the period. Finally, Meeder Asset Management Inc. lifted 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 buying an additional 425 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of 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 reduced their price objective on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th.

Copart Stock Performance

Shares of NASDAQ CPRT traded down $1.09 during trading on Thursday, reaching $61.88. The stock had a trading volume of 1,654,075 shares, compared to its average volume of 4,454,252. The company has a market cap of $59.62 billion, a P/E ratio of 44.35 and a beta of 1.31. The business's 50-day moving average price is $55.68 and its 200-day moving average price is $53.66. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. The company 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 company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. Analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.68% of the company's stock.

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.