Handelsbanken Fonder AB Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Handelsbanken Fonder AB raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 21.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 557,126 shares of the business services provider’s stock after acquiring an additional 97,875 shares during the quarter. Handelsbanken Fonder AB’s holdings in Copart were worth $31,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Eastern Bank bought a new position in shares of Copart in the third quarter worth approximately $29,000. Quarry LP purchased a new position in Copart in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter worth $33,000. True Wealth Design LLC raised its position in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last 90 days. 9.68% of the stock is owned by company insiders.

Copart Trading Down 2.5 %

Shares of NASDAQ CPRT opened at $58.22 on Friday. The stock’s 50-day moving average is $58.07 and its 200 day moving average is $55.61. The stock has a market cap of $56.10 billion, a price-to-earnings ratio of 41.00 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 31.92% and a return on equity of 18.96%. On average, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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.