Handelsbanken Fonder AB Sells 12,028 Shares of Copart, Inc. (NASDAQ:CPRT)

Handelsbanken Fonder AB decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 455,057 shares of the business services provider’s stock after selling 12,028 shares during the period. Handelsbanken Fonder AB’s holdings in Copart were worth $22,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. OFI Invest Asset Management acquired a new stake in shares of Copart during the 3rd quarter valued at $25,000. Manchester Capital Management LLC lifted its holdings in Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after buying an additional 314 shares during the period. Bell Investment Advisors Inc lifted its holdings in Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after buying an additional 323 shares during the period. Annapolis Financial Services LLC lifted its holdings in Copart by 100.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after buying an additional 360 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Copart by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock worth $34,000 after buying an additional 400 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $53.30 on Tuesday. Copart, Inc. has a one year low of $38.35 and a one year high of $58.58. The stock’s 50-day moving average is $54.40 and its 200 day moving average is $50.21. The firm has a market cap of $51.25 billion, a price-to-earnings ratio of 38.35 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on CPRT shares. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by company insiders.

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.