Safe Harbor Fiduciary LLC Invests $1.47 Million in Copart, Inc. (NASDAQ:CPRT)

Safe Harbor Fiduciary LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. Edgewood Management LLC increased its holdings in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after purchasing an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after purchasing an additional 30,454 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.2 %

NASDAQ:CPRT opened at $62.97 on Thursday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The stock has a market cap of $60.67 billion, a price-to-earnings ratio of 44.35 and a beta of 1.31. The stock has a 50-day moving average price of $55.46 and a two-hundred day moving average price of $53.59.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.