294,300 Shares in Copart, Inc. (NASDAQ:CPRT) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 294,300 shares of the business services provider's stock, valued at approximately $16,890,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sandy Spring Bank increased its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the period. Quarry LP bought a new position in Copart in the 3rd quarter valued at about $29,000. True Wealth Design LLC increased its stake in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after buying an additional 608 shares during the period. Curio Wealth LLC bought a new stake in shares of Copart during the 4th quarter worth about $52,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the 4th quarter worth approximately $54,000. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

Shares of Copart stock traded down $0.73 during trading on Friday, hitting $54.91. The stock had a trading volume of 621,297 shares, compared to its average volume of 4,003,082. The business has a fifty day moving average of $56.36 and a two-hundred day moving average of $56.10. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $53.05 billion, a P/E ratio of 36.88 and a beta of 1.30.

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Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. 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 over the last ninety days. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

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

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.