Mirae Asset Global Investments Co. Ltd. Increases Stake in Copart, Inc. $CPRT

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tripletail Wealth Management LLC bought a new stake in shares of Copart in the 3rd quarter worth $27,000. Ameritas Advisory Services LLC purchased a new stake in shares of Copart during the second quarter valued at $31,000. Creekmur Asset Management LLC raised its position in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares during the last quarter. Bank of Jackson Hole Trust raised its position in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares during the last quarter. Finally, GFG Capital LLC bought a new position in Copart during the 2nd quarter valued at about $37,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

NASDAQ:CPRT opened at $40.58 on Friday. The stock has a 50-day simple moving average of $39.49 and a two-hundred day simple moving average of $43.36. The firm has a market capitalization of $39.28 billion, a PE ratio of 24.74 and a beta of 1.10. Copart, Inc. has a 52-week low of $37.41 and a 52-week high of $63.85.

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

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.