Andra AP fonden Purchases 249,600 Shares of Copart, Inc. $CPRT

Andra AP fonden raised its position in Copart, Inc. (NASDAQ:CPRT) by 145.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 421,100 shares of the business services provider’s stock after acquiring an additional 249,600 shares during the quarter. Andra AP fonden’s holdings in Copart were worth $18,937,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after buying an additional 45,346 shares during the period. Principal Financial Group Inc. boosted its stake in Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares in the last quarter. California Public Employees Retirement System grew its holdings in Copart by 89.0% in the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after purchasing an additional 1,200,035 shares during the period. Yacktman Asset Management LP bought a new position in shares of Copart during the third quarter valued at approximately $3,382,000. Finally, Comgest Global Investors S.A.S. lifted its holdings in shares of Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after purchasing an additional 212,520 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Trading Up 2.5%

Shares of NASDAQ:CPRT opened at $38.09 on Friday. The company has a market cap of $36.87 billion, a price-to-earnings ratio of 23.81 and a beta of 1.08. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85. The company has a 50-day moving average price of $39.18 and a 200 day moving average price of $42.23.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

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.