KLP Kapitalforvaltning AS Takes $16.89 Million Position in Copart, Inc. (NASDAQ:CPRT)

KLP Kapitalforvaltning AS purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 294,300 shares of the business services provider’s stock, valued at approximately $16,890,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sandy Spring Bank increased its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Quarry LP purchased a new stake in Copart in the 3rd quarter worth approximately $29,000. True Wealth Design LLC increased its holdings in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares in the last quarter. Curio Wealth LLC purchased a new stake in Copart in the 4th quarter worth approximately $52,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Copart in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $53.63 on Monday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a 50 day simple moving average of $56.43 and a two-hundred day simple moving average of $56.03. The firm has a market cap of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 385,480 shares of company stock valued at $21,667,683 in the last three months. 9.68% of the stock is currently owned by corporate insiders.

About Copart

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.