Danske Bank A S Purchases Shares of 467,093 Copart, Inc. $CPRT

Danske Bank A S purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 467,093 shares of the business services provider’s stock, valued at approximately $13,167,000. Danske Bank A S owned about 0.05% of Copart as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CPRT. BlackRock Inc. bought a new position in shares of Copart during the second quarter worth about $1,908,980,000. State Street Corp increased its position in Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares during the period. Capital World Investors increased its position in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the period. Geode Capital Management LLC raised its holdings in Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% 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 link. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CPRT shares. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Barclays set a $26.00 target price on shares of Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Stephens reiterated an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.67.

Copart Stock Up 1.4%

Shares of CPRT stock opened at $34.33 on Friday. The company has a market cap of $31.78 billion, a price-to-earnings ratio of 21.32 and a beta of 1.01. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The firm has a 50 day moving average of $29.43 and a 200-day moving average of $32.70.

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