Copart, Inc. (NASDAQ:CPRT) Stock Holdings Reduced by DnB Asset Management AS

DnB Asset Management AS cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 172,790 shares of the business services provider’s stock after selling 3,502 shares during the period. DnB Asset Management AS’s holdings in Copart were worth $9,916,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Copart by 106.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock valued at $503,000 after purchasing an additional 4,951 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Copart by 13.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,277 shares of the business services provider’s stock valued at $9,866,000 after purchasing an additional 22,592 shares during the last quarter. Public Sector Pension Investment Board increased its position in Copart by 12.9% during the third quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock worth $2,061,000 after buying an additional 4,500 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in Copart during the third quarter valued at about $761,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 385,480 shares of company stock worth $21,667,683 in the last 90 days. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Trading Down 0.9 %

NASDAQ CPRT opened at $55.15 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a fifty day simple moving average of $56.33 and a 200 day simple moving average of $56.19. The company has a market cap of $53.28 billion, a P/E ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Equities research analysts forecast that Copart, Inc. will post 1.57 EPS 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.