Handelsbanken Fonder AB Grows Stock Position in Copart, Inc. (NASDAQ:CPRT)

Handelsbanken Fonder AB grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 53.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 854,336 shares of the business services provider's stock after buying an additional 297,210 shares during the period. Handelsbanken Fonder AB owned 0.09% of Copart worth $48,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sandy Spring Bank boosted its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Copart during the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart in the 4th quarter worth approximately $45,000. Versant Capital Management Inc grew its stake in Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after buying an additional 831 shares in the last quarter. Finally, Curio Wealth LLC bought a new stake in Copart during the 4th quarter valued at $52,000. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Copart stock traded down $1.40 during midday trading on Friday, reaching $48.59. 8,554,170 shares of the stock were exchanged, compared to its average volume of 4,755,459. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a market cap of $46.98 billion, a PE ratio of 32.61 and a beta of 1.10. The company's fifty day moving average is $57.58 and its 200-day moving average is $57.51.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $0.39 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

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