Lansforsakringar Fondforvaltning AB publ Buys 21,870 Shares of Copart, Inc. $CPRT

Lansforsakringar Fondforvaltning AB publ lifted its position in Copart, Inc. (NASDAQ:CPRT) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,303 shares of the business services provider’s stock after buying an additional 21,870 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Copart were worth $13,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Brighton Jones LLC lifted its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Copart by 116.2% during the 2nd quarter. D.A. Davidson & CO. now owns 22,421 shares of the business services provider’s stock worth $1,100,000 after acquiring an additional 12,052 shares during the period. Focus Partners Advisor Solutions LLC increased its holdings in shares of Copart by 35.2% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 19,446 shares of the business services provider’s stock worth $954,000 after acquiring an additional 5,060 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Copart during the 2nd quarter valued at $338,000. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced 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. Barclays restated an “underweight” rating and set a $32.00 price objective (down previously from $33.00) on shares of Copart in a report on Monday. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research note on Friday. Finally, CJS Securities upgraded 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 issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.40.

Copart Stock Performance

Shares of CPRT stock opened at $35.36 on Tuesday. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The company has a market cap of $34.23 billion, a PE ratio of 22.10 and a beta of 1.08. The stock’s fifty day moving average price is $39.38 and its two-hundred day moving average price is $42.45.

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

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.60% of the company’s stock.

About Copart

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.