Lansforsakringar Fondforvaltning AB publ Purchases 21,870 Shares of Copart, Inc. $CPRT

Lansforsakringar Fondforvaltning AB publ raised its position in Copart, Inc. (NASDAQ:CPRT) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 299,303 shares of the business services provider’s stock after buying an additional 21,870 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Copart were worth $13,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Allworth Financial LP grew its holdings in Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after acquiring an additional 228 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of Copart by 4.9% during the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares during the period. Hollencrest Capital Management grew its stake in shares of Copart by 13.2% in the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after purchasing an additional 244 shares during the last quarter. Unique Wealth LLC grew its stake in shares of Copart by 2.3% in the third quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after purchasing an additional 245 shares during the last quarter. Finally, Tobam raised its position in Copart by 22.9% during the 2nd quarter. Tobam now owns 1,340 shares of the business services provider’s stock worth $66,000 after purchasing an additional 250 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research report on Friday. Finally, Barclays restated an “underweight” rating and set a $32.00 price target (down previously from $33.00) on shares of Copart in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.40.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 3.1%

Shares of CPRT stock opened at $35.36 on Tuesday. Copart, Inc. has a 52 week low of $33.81 and a 52 week high of $63.85. The firm has a 50 day moving average of $39.38 and a 200-day moving average of $42.45. The company has a market cap of $34.23 billion, a price-to-earnings ratio of 22.10 and a beta of 1.08.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.