Mitsubishi UFJ Asset Management Co. Ltd. Has $88.47 Million Position in Copart, Inc. $CPRT

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,967,409 shares of the business services provider’s stock after acquiring an additional 41,184 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Copart were worth $88,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cloud Capital Management LLC bought a new stake in Copart in the third quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new stake in shares of Copart in the 3rd quarter valued at about $27,000. LRI Investments LLC raised its position in shares of Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the period. Creekmur Asset Management LLC boosted its stake in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Up 2.5%

NASDAQ CPRT opened at $38.09 on Friday. The firm’s 50 day moving average is $39.18 and its 200-day moving average is $42.23. The company has a market capitalization of $36.87 billion, a PE ratio of 23.81 and a beta of 1.08. Copart, Inc. has a 12-month low of $33.81 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.