Copart, Inc. (NASDAQ:CPRT) Stock Position Lessened by Nordea Investment Management AB

Nordea Investment Management AB reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 52.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 747,400 shares of the business services provider’s stock after selling 824,436 shares during the quarter. Nordea Investment Management AB’s holdings in Copart were worth $42,983,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Sanctuary Advisors LLC boosted its holdings in shares of Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after acquiring an additional 9,222 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares during the period. Kinsale Capital Group Inc. raised its stake in shares of Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after buying an additional 13,554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Copart in the second quarter valued at $5,418,000. Finally, Oddo BHF Asset Management Sas bought a new position in Copart during the third quarter valued at about $1,206,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their ownership of the stock. 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.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $56.24 on Wednesday. The company has a market capitalization of $54.19 billion, a PE ratio of 39.61 and a beta of 1.33. The stock has a fifty day moving average of $58.62 and a 200-day moving average of $54.61. Copart, Inc. has a one year low of $46.49 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion for 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 business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart 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.