Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Skandinaviska Enskilda Banken AB publ trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,152 shares of the business services provider’s stock after selling 285,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Copart were worth $15,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Copart in the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Copart in the third quarter worth about $33,000. True Wealth Design LLC increased its position in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Copart in the fourth quarter worth approximately $54,000. Finally, Continuum Advisory LLC increased its position in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after purchasing an additional 452 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Down 1.4 %

CPRT stock opened at $52.30 on Friday. The company’s 50 day moving average is $56.87 and its 200 day moving average is $55.99. The stock has a market cap of $50.53 billion, a price-to-earnings ratio of 35.10 and a beta of 1.30. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director Matt Blunt sold 50,000 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock worth $18,007,983 over the last ninety days. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

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.