Tower Research Capital LLC TRC Purchases 44,209 Shares of Copart, Inc. (NASDAQ:CPRT)

Tower Research Capital LLC TRC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 120.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,939 shares of the business services provider's stock after buying an additional 44,209 shares during the period. Tower Research Capital LLC TRC's holdings in Copart were worth $4,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Sandy Spring Bank boosted its position in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the period. Curio Wealth LLC purchased a new position in Copart during the 4th quarter valued at about $52,000. Retirement Wealth Solutions LLC purchased a new position in Copart during the 4th quarter valued at about $54,000. Eastern Bank lifted its position in shares of Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock worth $69,000 after purchasing an additional 640 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Copart during the fourth quarter worth approximately $73,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of Copart stock traded down $1.07 during midday trading on Friday, reaching $60.90. 4,381,004 shares of the company's stock traded hands, compared to its average volume of 4,415,069. The company has a market cap of $58.84 billion, a price-to-earnings ratio of 40.87 and a beta of 1.22. The company's 50 day simple moving average is $56.31 and its 200 day simple moving average is $57.09. 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 quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

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.