Swedbank AB Acquires 29,261 Shares of Copart, Inc. $CPRT

Swedbank AB raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 666,520 shares of the business services provider’s stock after purchasing an additional 29,261 shares during the period. Swedbank AB’s holdings in Copart were worth $22,128,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new stake in Copart in the fourth quarter worth $25,000. Cache Advisors LLC bought a new position in Copart in the 1st quarter worth about $31,000. Aventura Private Wealth LLC bought a new position in Copart in the 4th quarter worth about $33,000. Reflection Asset Management purchased a new stake in Copart during the 4th quarter valued at about $34,000. Finally, Board of the Pension Protection Fund bought a new stake in Copart during the 4th quarter valued at about $35,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several analyst reports. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Copart currently has an average rating of “Moderate Buy” and an average target price of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of CPRT opened at $28.33 on Friday. The firm has a market capitalization of $26.23 billion, a P/E ratio of 17.60 and a beta of 1.02. Copart, Inc. has a one year low of $27.81 and a one year high of $50.11. The business has a fifty day moving average of $31.43 and a 200 day moving average of $34.94.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Company 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.