Avanza Fonder AB Has $3.10 Million Position in Copart, Inc. (NASDAQ:CPRT)

Avanza Fonder AB cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,002 shares of the business services provider's stock after selling 10,635 shares during the period. Avanza Fonder AB's holdings in Copart were worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CPRT. Sandy Spring Bank raised its stake in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Copart during the fourth quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Copart during the fourth quarter worth approximately $45,000. Versant Capital Management Inc increased its stake in Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after purchasing an additional 831 shares in the last quarter. Finally, Curio Wealth LLC bought a new stake in Copart in the fourth quarter valued at approximately $52,000. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CPRT shares. JPMorgan Chase & Co. lowered their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Price Performance

Shares of Copart stock traded down $1.40 on Friday, hitting $48.59. The company had a trading volume of 8,554,170 shares, compared to its average volume of 4,759,737. The firm has a market capitalization of $46.98 billion, a P/E ratio of 32.61 and a beta of 1.10. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a 50-day moving average of $57.58 and a 200-day moving average of $57.47.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by insiders.

Copart 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.