Tokio Marine Asset Management Co. Ltd. Purchases 43,000 Shares of Copart, Inc. $CPRT

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 508,962 shares of the business services provider’s stock after purchasing an additional 43,000 shares during the period. Copart comprises approximately 0.8% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 21st biggest position. Tokio Marine Asset Management Co. Ltd. owned 0.05% of Copart worth $22,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Sumitomo Mitsui Trust Group Inc. boosted its stake in Copart by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,291,411 shares of the business services provider’s stock valued at $103,045,000 after buying an additional 28,561 shares in the last quarter. First Horizon Corp bought a new position in shares of Copart in the third quarter worth about $116,000. MGO One Seven LLC lifted its holdings in shares of Copart by 0.4% in the third quarter. MGO One Seven LLC now owns 71,574 shares of the business services provider’s stock worth $3,219,000 after acquiring an additional 286 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Copart by 21,593.8% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 24,514 shares of the business services provider’s stock valued at $1,095,000 after purchasing an additional 24,401 shares in the last quarter. Finally, Tema Etfs LLC increased its position in Copart by 59.3% during the 3rd quarter. Tema Etfs LLC now owns 49,424 shares of the business services provider’s stock worth $2,223,000 after purchasing an additional 18,395 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $39.83 on Monday. The stock has a market capitalization of $38.56 billion, a PE ratio of 24.29 and a beta of 1.10. The business’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $44.10. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Robert W. Baird cut their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Barclays reaffirmed an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.