Mirae Asset Global Investments Co. Ltd. Acquires 45,346 Shares of Copart, Inc. $CPRT

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 13.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,603 shares of the business services provider’s stock after purchasing an additional 45,346 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Copart were worth $16,711,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPRT. GC Wealth Management RIA LLC acquired a new stake in shares of Copart in the second quarter valued at approximately $219,000. Shell Asset Management Co. boosted its stake in Copart by 6.7% during the second quarter. Shell Asset Management Co. now owns 167,910 shares of the business services provider’s stock worth $8,239,000 after buying an additional 10,559 shares during the last quarter. Nordea Investment Management AB grew its holdings in Copart by 3.5% in the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after buying an additional 25,564 shares in the last quarter. California Public Employees Retirement System increased its stake 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 worth $125,044,000 after acquiring an additional 1,200,035 shares during the last quarter. Finally, Lord & Richards Wealth Management LLC raised its holdings in shares of Copart by 32.6% during the 2nd quarter. Lord & Richards Wealth Management LLC now owns 34,245 shares of the business services provider’s stock worth $1,680,000 after acquiring an additional 8,413 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.7%

Shares of Copart stock opened at $40.58 on Friday. The company has a fifty day simple moving average of $39.49 and a 200-day simple moving average of $43.36. The stock has a market cap of $39.28 billion, a price-to-earnings ratio of 24.74 and a beta of 1.10. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85.

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

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s 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. 9.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPRT. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird cut their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Copart Company Profile

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.