Copart, Inc. $CPRT Position Increased by MUFG Securities EMEA plc

MUFG Securities EMEA plc raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 114.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,511 shares of the business services provider’s stock after buying an additional 19,484 shares during the period. MUFG Securities EMEA plc’s holdings in Copart were worth $1,429,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new stake in Copart during the fourth quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Copart in the fourth quarter worth approximately $33,000. Board of the Pension Protection Fund purchased a new stake in shares of Copart in the fourth quarter worth approximately $35,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Copart in the third quarter worth approximately $36,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of the 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 transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $30.86 on Wednesday. The stock’s 50 day moving average price is $33.22 and its 200 day moving average price is $36.82. Copart, Inc. has a 52 week low of $30.43 and a 52 week high of $51.15. The company has a market capitalization of $28.57 billion, a P/E ratio of 19.17 and a beta of 1.00.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPRT. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Barclays reissued an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Copart has an average rating of “Hold” and an average target price of $44.50.

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.