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

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 51.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 added to or reduced their stakes in the company. Quarry LP purchased a new position in Copart during the third quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Copart during the third quarter valued at $33,000. True Wealth Design LLC lifted its position in Copart by 1,737.1% during the third 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. Continuum Advisory LLC lifted its position in Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after buying an additional 452 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Copart during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated Monday, December 23rd. The stock was 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 directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Thursday, January 2nd. The stock was 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 315,480 shares of company stock worth $18,007,983 over the last three months. 9.68% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $52.30 on Friday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The business has a fifty day moving average price of $56.87 and a 200-day moving average price of $55.99. The company has a market capitalization of $50.53 billion, a PE ratio of 35.10 and a beta of 1.30.

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

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.