Lansforsakringar Fondforvaltning AB publ Sells 5,964 Shares of Copart, Inc. $CPRT

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Copart, Inc. by 2.1%, now owning 277,469 shares valued at approximately $15.7 million.
• Wall Street analysts have mixed views on Copart, with Robert W. Baird lowering the price target to $55.00 and maintaining an "outperform" rating, while the average price target across analysts is $53.33.
• CEO Jeffrey Liaw sold 24,088 shares at $46.43 each, significantly decreasing his ownership by 43.31%.

Lansforsakringar Fondforvaltning AB publ lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 277,469 shares of the business services provider's stock after selling 5,964 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Copart were worth $15,702,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CPRT. Nuveen LLC purchased a new position in shares of Copart in the first quarter valued at about $267,723,000. Fiera Capital Corp grew its position in shares of Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after purchasing an additional 2,642,100 shares in the last quarter. Vanguard Group Inc. raised its stake in Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. JPMorgan Chase & Co. raised its stake in Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the period. Finally, Douglass Winthrop Advisors LLC purchased a new position in Copart in the 1st quarter worth approximately $87,903,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Up 0.1%

CPRT traded up $0.06 during trading hours on Monday, hitting $48.81. The company's stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. The stock has a market cap of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.03. The business's 50-day moving average price is $47.41 and its 200-day moving average price is $53.09. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stephens initiated coverage on shares of Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Copart currently has a consensus rating of "Hold" and a consensus target price of $53.33.

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.