KLP Kapitalforvaltning AS Grows Stock Holdings in Copart, Inc. $CPRT

KLP Kapitalforvaltning AS boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,600 shares of the business services provider's stock after acquiring an additional 33,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Copart were worth $16,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avantra Family Wealth Inc. boosted its stake in shares of Copart by 11.6% in the second quarter. Avantra Family Wealth Inc. now owns 4,208 shares of the business services provider's stock valued at $206,000 after purchasing an additional 438 shares during the period. Drake & Associates LLC boosted its stake in shares of Copart by 34.4% in the second quarter. Drake & Associates LLC now owns 11,232 shares of the business services provider's stock valued at $551,000 after purchasing an additional 2,872 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Copart by 12.8% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 4,624 shares of the business services provider's stock valued at $227,000 after buying an additional 523 shares during the period. Litman Gregory Wealth Management LLC boosted its position in Copart by 1.8% in the 2nd quarter. Litman Gregory Wealth Management LLC now owns 167,827 shares of the business services provider's stock valued at $8,235,000 after buying an additional 2,978 shares during the period. Finally, Duncan Williams Asset Management LLC boosted its position in Copart by 16.4% in the 2nd quarter. Duncan Williams Asset Management LLC now owns 21,855 shares of the business services provider's stock valued at $1,072,000 after buying an additional 3,074 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Copart in a report on Wednesday. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Stephens decreased their price target 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. Finally, HSBC set a $62.00 price target on shares of Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Copart presently has an average rating of "Moderate Buy" and a consensus target price of $54.50.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $44.93 on Thursday. The company has a 50-day simple moving average of $46.86 and a 200-day simple moving average of $51.45. Copart, Inc. has a one year low of $44.12 and a one year high of $64.38. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 28.08 and a beta of 1.03.

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

Copart Company 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.

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