Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 20,700 Shares of Copart, Inc. $CPRT

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Copart, Inc. by 12.1% during the first quarter, reaching a total of 191,656 shares valued at approximately $10.8 million.
• Major institutional investors have also been active, with BI Asset Management Fondsmaeglerselskab A S significantly raising its position in Copart by 289.6% in the last quarter.
• Recent analyst reports have adjusted target prices for Copart stock, with *Robert W. Baird* lowering their estimate from $64.00 to $55.00 and maintaining an "outperform" rating.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,656 shares of the business services provider's stock after acquiring an additional 20,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Copart were worth $10,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in Copart during the 1st quarter worth about $26,000. Sunbelt Securities Inc. purchased a new stake in Copart during the 4th quarter worth about $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart during the first quarter worth about $36,000. Financial Network Wealth Advisors LLC increased its position in shares of Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after purchasing an additional 473 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Copart during the fourth quarter worth about $45,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.68% of the company's stock.

Copart Stock Up 0.6%

Shares of NASDAQ CPRT traded up $0.28 during mid-day trading on Monday, hitting $47.36. 6,023,005 shares of the company traded hands, compared to its average volume of 5,686,075. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The stock has a market capitalization of $45.79 billion, a price-to-earnings ratio of 31.16 and a beta of 1.04. The business has a 50 day moving average of $47.55 and a two-hundred day moving average of $53.82.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. Copart's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stephens assumed coverage on Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock. 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 report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

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.