Assetmark Inc. Has $21.26 Million Stock Holdings in Copart, Inc. $CPRT

Assetmark Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 29.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 472,845 shares of the business services provider’s stock after acquiring an additional 107,160 shares during the period. Assetmark Inc.’s holdings in Copart were worth $21,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after buying an additional 45,346 shares during the last quarter. Nordea Investment Management AB lifted its stake in Copart by 3.5% in the second quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after acquiring an additional 25,564 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Copart by 89.0% in the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after acquiring an additional 1,200,035 shares during the period. Yacktman Asset Management LP acquired a new position in shares of Copart during the 3rd quarter worth about $3,382,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT opened at $37.49 on Friday. The firm has a market cap of $36.29 billion, a price-to-earnings ratio of 22.86 and a beta of 1.08. The stock’s fifty day moving average price is $39.57 and its two-hundred day moving average price is $42.86. Copart, Inc. has a one year low of $36.52 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Copart’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPRT. JPMorgan Chase & Co. reduced their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price objective (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Robert W. Baird decreased their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.60.

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.