Copart, Inc. $CPRT Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 234,358 shares of the business services provider’s stock after acquiring an additional 15,807 shares during the period. Rakuten Investment Management Inc.’s holdings in Copart were worth $6,360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CPRT. BlackRock Inc. purchased a new position in shares of Copart during the second quarter valued at approximately $1,908,980,000. Bank of New York Mellon Corp bought a new position in Copart during the second quarter valued at approximately $488,663,000. Deutsche Bank AG bought a new position in Copart during the second quarter valued at approximately $436,413,000. Bank of America Corp DE boosted its holdings in Copart by 28.7% in the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after purchasing an additional 2,165,708 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Copart by 97.9% in the second quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock worth $255,381,000 after purchasing an additional 4,482,226 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Diane Morefield sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Down 0.4%

NASDAQ CPRT opened at $32.48 on Friday. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $42.05. The firm has a market capitalization of $30.09 billion, a P/E ratio of 20.95, a PEG ratio of 1.60 and a beta of 1.01. The company has a 50-day moving average price of $29.47 and a 200-day moving average price of $32.26.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. Copart’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPRT. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Tuesday, October 27th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Barrington Research raised Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research note on Thursday, September 3rd. Finally, HSBC downgraded Copart from a “buy” rating to a “hold” rating and dropped their price target for the stock from $46.00 to $36.00 in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.90.

Copart Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.