Swedbank AB Increases Holdings in Copart, Inc. $CPRT

Swedbank AB increased its position in Copart, Inc. (NASDAQ:CPRTFree Report) by 4.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 666,520 shares of the business services provider’s stock after buying an additional 29,261 shares during the quarter. Swedbank AB owned 0.07% of Copart worth $22,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lodestone Wealth Management LLC bought a new stake in Copart in the fourth quarter worth $25,000. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter valued at about $31,000. Aventura Private Wealth LLC purchased a new stake in Copart during the 4th quarter valued at about $33,000. Reflection Asset Management purchased a new stake in Copart during the 4th quarter valued at about $34,000. Finally, Board of the Pension Protection Fund bought a new position in Copart during the 4th quarter worth approximately $35,000. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 0.9%

Shares of Copart stock opened at $28.33 on Friday. The company’s fifty day simple moving average is $31.43 and its two-hundred day simple moving average is $34.94. The company has a market cap of $26.23 billion, a P/E ratio of 17.60 and a beta of 1.02. Copart, Inc. has a 12-month low of $27.81 and a 12-month high of $50.11.

Copart (NASDAQ:CPRTGet Free Report) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Copart has an average rating of “Moderate Buy” and an average price target of $44.50.

Get Our Latest Stock Analysis on Copart

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

About Copart

(Free Report)

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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