Nomura Asset Management Co. Ltd. Sells 575,566 Shares of Copart, Inc. $CPRT

Nomura Asset Management Co. Ltd. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 41.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 818,776 shares of the business services provider’s stock after selling 575,566 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.08% of Copart worth $32,055,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Lodestone Wealth Management LLC acquired a new position in shares of Copart in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC raised its stake in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Copart in the 4th quarter valued at $33,000. Board of the Pension Protection Fund acquired a new position in shares of Copart in the 4th quarter valued at $35,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Copart in the 3rd quarter valued at $36,000. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Barclays restated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and an average target price of $44.50.

Copart Trading Down 1.4%

Shares of NASDAQ CPRT opened at $32.32 on Tuesday. The firm has a market capitalization of $31.13 billion, a PE ratio of 20.07 and a beta of 1.02. Copart, Inc. has a 1 year low of $31.95 and a 1 year high of $51.40. The firm’s 50-day moving average is $33.22 and its 200-day moving average is $36.82.

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

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.60% of the company’s stock.

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.