E. Ohman J or Asset Management AB Has $2.21 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

E. Ohman J or Asset Management AB lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 14.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,000 shares of the business services provider’s stock after selling 6,344 shares during the period. E. Ohman J or Asset Management AB’s holdings in Copart were worth $2,207,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CPRT. Norges Bank acquired a new position in Copart in the fourth quarter worth about $682,089,000. Madison Investment Advisors LLC acquired a new position in Copart in the fourth quarter worth about $253,686,000. Bank of New York Mellon Corp raised its position in Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Edgewood Management LLC raised its position in Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Copart by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after purchasing an additional 1,785,741 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In other news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock valued at $11,401,000 over the last three months. 9.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd.

Copart Trading Down 0.0%

Shares of Copart stock opened at $50.13 on Friday. The stock has a market capitalization of $48.43 billion, a price-to-earnings ratio of 33.64 and a beta of 1.10. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm’s 50-day moving average price is $58.14 and its two-hundred day moving average price is $57.87.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

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.