Copart, Inc. (NASDAQ:CPRT) Shares Sold by DnB Asset Management AS

DnB Asset Management AS lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,790 shares of the business services provider’s stock after selling 3,502 shares during the quarter. DnB Asset Management AS’s holdings in Copart were worth $9,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. increased its position in shares of Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after acquiring an additional 8,300 shares during the last quarter. National Pension Service lifted its holdings in Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after acquiring an additional 48,334 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Copart during the 4th quarter valued at approximately $3,962,000. Sanctuary Advisors LLC boosted its holdings in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after acquiring an additional 9,222 shares during the period. Finally, Cobblestone Capital Advisors LLC NY boosted its stake in Copart by 47.4% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider’s stock valued at $22,565,000 after purchasing an additional 126,436 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.9 %

NASDAQ:CPRT opened at $55.15 on Friday. The business’s 50-day moving average price is $56.33 and its 200 day moving average price is $56.19. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market cap of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Insider Buying and Selling

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,480 shares of company stock valued at $21,667,683. Company insiders own 9.68% of the company’s stock.

Copart Company Profile

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.