Mitsubishi UFJ Trust & Banking Corp Sells 46,165 Shares of Copart, Inc. $CPRT

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 9.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 439,488 shares of the business services provider’s stock after selling 46,165 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Copart were worth $17,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new position in shares of Copart in the third quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in Copart during the 4th quarter valued at $25,000. LRI Investments LLC boosted its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after buying an additional 363 shares during the period. Cornerstone Planning Group LLC grew its holdings in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Copart in the 3rd quarter worth $36,000. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.11 on Friday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85. The company’s 50-day moving average is $34.31 and its 200 day moving average is $38.31. The stock has a market capitalization of $31.90 billion, a P/E ratio of 20.69 and a beta of 1.14.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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 company had revenue of $1.12 billion during 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%.The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on CPRT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and an average target price of $44.40.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’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 value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Copart 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.