SEB Asset Management AB Acquires New Holdings in Copart, Inc. $CPRT

SEB Asset Management AB bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 177,981 shares of the business services provider’s stock, valued at approximately $5,909,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPRT. Lodestone Wealth Management LLC purchased a new position in shares of Copart during the 4th quarter valued at $25,000. Reflection Asset Management purchased a new stake in shares of Copart in the fourth quarter worth $34,000. Cache Advisors LLC purchased a new stake in shares of Copart in the first quarter worth $31,000. Triumph Capital Management boosted its stake in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of research analyst reports. Barclays set a $26.00 target price on Copart and gave the stock an “underweight” rating in a research note on Tuesday. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Price Performance

CPRT opened at $27.17 on Thursday. The business’s fifty day simple moving average is $30.37 and its 200 day simple moving average is $34.19. Copart, Inc. has a 52 week low of $26.85 and a 52 week high of $50.11. The stock has a market cap of $25.15 billion, a PE ratio of 16.88 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.