Nordea Investment Management AB Has $36.15 Million Position in Copart, Inc. $CPRT

Key Points

• Nordea Investment Management AB increased its position in Copart, Inc. by 3.5% during the second quarter, bringing its total holdings to 753,973 shares worth approximately $36.15 million.
• Copart reported a quarterly earnings per share of $0.41, surpassing the consensus estimate of $0.37, with revenue of $1.13 billion for the quarter.
• Insider transactions included CEO Jeffrey Liaw selling 24,283 shares for about $1.09 million, reducing his position by 43.66%.

Nordea Investment Management AB lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 753,973 shares of the business services provider's stock after purchasing an additional 25,564 shares during the quarter. Nordea Investment Management AB owned 0.08% of Copart worth $36,153,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Copart by 13.1% during the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock worth $85,000 after purchasing an additional 175 shares during the period. Western Wealth Management LLC raised its position in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after buying an additional 192 shares during the last quarter. FSM Wealth Advisors LLC raised its position in Copart by 4.9% in the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock valued at $263,000 after buying an additional 218 shares during the last quarter. Transcend Capital Advisors LLC raised its position in Copart by 1.6% in the 1st quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider's stock valued at $789,000 after buying an additional 220 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Copart by 1.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider's stock valued at $712,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Up 0.6%

NASDAQ:CPRT opened at $44.34 on Friday. The firm has a market capitalization of $42.91 billion, a price-to-earnings ratio of 27.71 and a beta of 1.03. Copart, Inc. has a twelve month low of $43.32 and a twelve month high of $64.38. The stock's 50 day moving average price is $46.61 and its two-hundred day moving average price is $50.84.

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, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HSBC set a $62.00 target price on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Finally, Robert W. Baird dropped 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 issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Copart has a consensus rating of "Moderate Buy" and an average target price of $54.50.

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.

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