Avanza Fonder AB Has $3.47 Million Stock Position in Copart, Inc. $CPRT

Avanza Fonder AB lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,498 shares of the business services provider’s stock after acquiring an additional 24,646 shares during the quarter. Avanza Fonder AB’s holdings in Copart were worth $3,465,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in Copart by 6.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 46,633 shares of the business services provider’s stock valued at $1,826,000 after acquiring an additional 2,626 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in Copart by 41.0% during the 4th quarter. First Heartland Consultants Inc. now owns 13,711 shares of the business services provider’s stock worth $537,000 after purchasing an additional 3,986 shares during the last quarter. SG Americas Securities LLC lifted its position in Copart by 2,826.0% during the 4th quarter. SG Americas Securities LLC now owns 675,048 shares of the business services provider’s stock valued at $26,428,000 after purchasing an additional 651,977 shares during the period. Assenagon Asset Management S.A. lifted its position in Copart by 41.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,917,094 shares of the business services provider’s stock valued at $153,354,000 after purchasing an additional 1,151,475 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in shares of Copart in the 4th quarter valued at about $5,395,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CPRT shares. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Barclays restated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $44.40.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $32.84 on Wednesday. The company has a 50 day moving average price of $37.88 and a two-hundred day moving average price of $40.61. The company has a market capitalization of $31.64 billion, a PE ratio of 20.53 and a beta of 1.09. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Company Profile

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.