Copart, Inc. $CPRT Holdings Lifted by Avanza Fonder AB

Key Points

• Avanza Fonder AB increased its stake in Copart, Inc. by 18.2%, holding 63,852 shares valued at approximately $3.13 million as of the latest SEC filing.
• Copart, Inc. reported earnings of $0.41 per share for the last quarter, surpassing analyst estimates of $0.37, while revenue reached $1.13 billion.
• Major institutional investors now own 85.78% of Copart's stock, with analyst ratings showing a consensus of "Moderate Buy" and a target price of $54.50.

Avanza Fonder AB grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,852 shares of the business services provider's stock after purchasing an additional 9,850 shares during the quarter. Avanza Fonder AB's holdings in Copart were worth $3,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after purchasing an additional 6,817 shares during the period. Woodline Partners LP purchased a new position in Copart in the fourth quarter worth about $3,021,000. Waverly Advisors LLC purchased a new stake in Copart in the 4th quarter valued at about $493,000. Vise Technologies Inc. purchased a new position in Copart during the 4th quarter valued at about $378,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Copart during the fourth quarter worth about $31,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CPRT. HSBC set a $62.00 price objective on shares of Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Stephens decreased their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Finally, Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Copart Price Performance

Shares of CPRT stock traded down $0.47 on Monday, hitting $45.38. 7,138,294 shares of the company's stock were exchanged, compared to its average volume of 7,794,347. The stock has a market cap of $43.88 billion, a P/E ratio of 28.36 and a beta of 1.03. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The company has a 50 day moving average of $47.19 and a 200 day moving average of $52.12.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.