Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Copart, Inc. $CPRT

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 454,236 shares of the business services provider’s stock after buying an additional 82,633 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Copart were worth $17,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. Brighton Jones LLC grew its holdings in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Copart during the second quarter worth about $2,677,000. Sei Investments Co. grew its holdings in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after buying an additional 13,860 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CPRT shares. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Copart presently has a consensus rating of “Hold” and a consensus price target of $44.40.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $33.45 on Friday. The business’s 50 day simple moving average is $35.18 and its 200-day simple moving average is $38.97. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 20.91 and a beta of 1.14. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

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.