Copart, Inc. (NASDAQ:CPRT) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 52.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 747,400 shares of the business services provider’s stock after selling 824,436 shares during the quarter. Nordea Investment Management AB owned about 0.08% of Copart worth $42,983,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Private Advisor Group LLC grew its stake in shares of Copart by 5.6% during the 2nd quarter. Private Advisor Group LLC now owns 25,781 shares of the business services provider’s stock valued at $1,396,000 after buying an additional 1,364 shares during the period. Candriam S.C.A. lifted its stake in shares of Copart by 7.1% in the 2nd quarter. Candriam S.C.A. now owns 51,104 shares of the business services provider’s stock valued at $2,768,000 after purchasing an additional 3,382 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Copart by 3.5% during the 2nd quarter. Savant Capital LLC now owns 7,732 shares of the business services provider’s stock worth $419,000 after purchasing an additional 265 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Copart during the 2nd quarter worth approximately $73,000. Finally, Acadian Asset Management LLC acquired a new position in Copart during the second quarter valued at approximately $1,123,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.6 %

Shares of CPRT opened at $56.24 on Wednesday. The firm has a market cap of $54.19 billion, a price-to-earnings ratio of 39.61 and a beta of 1.33. The business’s 50 day moving average is $58.62 and its two-hundred day moving average is $54.61. Copart, Inc. has a 52-week low of $46.49 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

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

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.