Nordea Investment Management AB Decreases Holdings in Copart, Inc. (NASDAQ:CPRT)

Nordea Investment Management AB lowered its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 52.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Optimum Investment Advisors grew its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank acquired a new stake in shares of Copart in the 3rd quarter valued at about $29,000. Quarry LP acquired a new position in Copart during the 3rd quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its holdings in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after acquiring an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter valued at approximately $33,000. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT traded up $0.54 during midday trading on Wednesday, hitting $56.78. 4,632,014 shares of the company's stock were exchanged, compared to its average volume of 3,817,563. Copart, Inc. has a 12 month low of $46.82 and a 12 month high of $64.38. The company has a market cap of $54.71 billion, a PE ratio of 39.99 and a beta of 1.33. The stock has a 50 day moving average price of $58.71 and a 200-day moving average price of $54.63.

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

Insider Buying and Selling at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on 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.