11,197,238 Shares in Copart, Inc. $CPRT Purchased by Norges Bank

Norges Bank acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, HoldingsChannel reports. The fund acquired 11,197,238 shares of the business services provider’s stock, valued at approximately $549,448,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atticus Wealth Management LLC purchased a new stake in shares of Copart during the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new position in Copart during the second quarter valued at $31,000. Creekmur Asset Management LLC increased its position in Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Copart in the first quarter valued at $36,000. Finally, Bank of Jackson Hole Trust lifted its position in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after buying an additional 335 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 353,123 shares of company stock worth $15,873,689. Insiders own 9.60% of the company’s stock.

Copart Trading Up 0.6%

Shares of Copart stock opened at $38.97 on Friday. Copart, Inc. has a 12-month low of $38.67 and a 12-month high of $64.06. The company has a market cap of $37.72 billion, a price-to-earnings ratio of 24.36 and a beta of 1.06. The company’s 50-day moving average price is $42.99 and its 200-day moving average price is $47.07.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. Copart’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CPRT. Barclays reissued an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.60.

Copart Company 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.