Copart, Inc. (NASDAQ:CPRT) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 289.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,322 shares of the business services provider's stock after purchasing an additional 25,512 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Copart were worth $1,970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sandy Spring Bank lifted its position in Copart by 59.5% during 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. Curio Wealth LLC acquired a new stake in Copart during the 4th quarter valued at $52,000. Retirement Wealth Solutions LLC purchased a new stake in Copart during the 4th quarter worth $54,000. Eastern Bank boosted its position in Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after buying an additional 640 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Copart during the fourth quarter valued at about $73,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Stock Performance

Shares of Copart stock opened at $58.73 on Tuesday. The firm has a market cap of $56.74 billion, a PE ratio of 39.42 and a beta of 1.22. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm's 50-day simple moving average is $56.22 and its 200-day simple moving average is $56.97.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock valued at $11,401,000. Company insiders own 9.68% of the company's stock.

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.

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