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

KLP Kapitalforvaltning AS purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 294,300 shares of the business services provider’s stock, valued at approximately $16,890,000.

Other institutional investors also recently bought and sold shares of the company. Sandy Spring Bank lifted its position in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the last quarter. Quarry LP bought a new stake in Copart in the third quarter worth $29,000. True Wealth Design LLC increased its stake in 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 period. Curio Wealth LLC purchased a new stake in Copart in the fourth quarter worth $52,000. Finally, Continuum Advisory LLC increased its stake in 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 period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,480 shares of company stock worth $21,667,683. Company insiders own 9.68% of the company’s stock.

Copart Stock Down 0.4 %

CPRT stock opened at $53.63 on Monday. The business’s fifty day simple moving average is $56.43 and its two-hundred day simple moving average is $56.03. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market cap of $51.81 billion, a price-to-earnings ratio of 35.99 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion for 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%. Research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

Separately, Argus lowered 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.