Avanza Fonder AB Makes New $3.71 Million Investment in Copart, Inc. (NASDAQ:CPRT)

Avanza Fonder AB acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 64,637 shares of the business services provider’s stock, valued at approximately $3,710,000.

A number of other hedge funds have also made changes to their positions in CPRT. Jensen Investment Management Inc. boosted its holdings in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. grew its position in shares of Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Copart during the 2nd quarter worth $70,307,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.9 %

Shares of NASDAQ CPRT opened at $56.90 on Friday. The stock has a market cap of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a twelve month low of $47.51 and a twelve month high of $64.38. The stock has a 50 day moving average of $59.07 and a two-hundred day moving average of $54.71.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective 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 related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $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 available through this link. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were 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. Over the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% of the company’s stock.

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.