DNB Asset Management AS Acquires 3,430 Shares of Copart, Inc. (NASDAQ:CPRT)

DNB Asset Management AS lifted its holdings in Copart, Inc. (NASDAQ:CPRTGet Rating) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,283 shares of the business services provider’s stock after acquiring an additional 3,430 shares during the period. DNB Asset Management AS’s holdings in Copart were worth $5,556,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Copart by 2.9% in the 4th quarter. State Street Corp now owns 8,860,818 shares of the business services provider’s stock valued at $1,343,477,000 after acquiring an additional 246,666 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Copart by 9.0% in the 4th quarter. Principal Financial Group Inc. now owns 7,963,326 shares of the business services provider’s stock valued at $1,203,727,000 after acquiring an additional 654,826 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Copart by 9.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,591,312 shares of the business services provider’s stock valued at $1,150,995,000 after acquiring an additional 667,084 shares during the last quarter. Geode Capital Management LLC lifted its stake in Copart by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,045,233 shares of the business services provider’s stock worth $611,776,000 after purchasing an additional 156,743 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Copart by 2.8% in the fourth quarter. Capital Research Global Investors now owns 3,756,052 shares of the business services provider’s stock worth $569,493,000 after purchasing an additional 102,421 shares during the last quarter. 87.14% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CPRT opened at $106.45 on Thursday. The firm has a market cap of $25.30 billion, a PE ratio of 23.71 and a beta of 1.13. The firm’s 50 day simple moving average is $112.31 and its 200-day simple moving average is $124.65. Copart, Inc. has a one year low of $102.21 and a one year high of $161.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.35 and a current ratio of 5.47.

Copart (NASDAQ:CPRTGet Rating) last issued its earnings results on Wednesday, May 18th. The business services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. Copart had a net margin of 32.15% and a return on equity of 26.69%. During the same quarter last year, the firm earned $1.09 EPS. Equities research analysts predict that Copart, Inc. will post 4.42 EPS for the current fiscal year.

In related news, Director Matt Blunt sold 10,000 shares of Copart stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $115.72, for a total transaction of $1,157,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 80,000 shares of Copart stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $110.78, for a total transaction of $8,862,400.00. The disclosure for this sale can be found here. Company insiders own 11.18% of the company’s stock.

Several brokerages have issued reports on CPRT. Guggenheim decreased their price objective on shares of Copart to $151.00 in a research note on Friday, May 20th. StockNews.com began coverage on shares of Copart in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Stephens raised their price objective on shares of Copart to $145.00 and gave the stock an “overweight” rating in a research note on Friday, May 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $157.75.

About Copart (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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