Mitsubishi UFJ Trust & Banking Corp Purchases 21,306 Shares of Copart, Inc. $CPRT

Mitsubishi UFJ Trust & Banking Corp boosted its position in Copart, Inc. (NASDAQ:CPRT) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 485,653 shares of the business services provider’s stock after acquiring an additional 21,306 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Copart worth $21,840,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts recently weighed in on CPRT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. reduced their price target 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. Barclays reissued an “underweight” rating and issued a $33.00 price target (up from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, 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 research report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Copart Stock Performance

Shares of CPRT opened at $41.54 on Tuesday. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85. The firm’s 50-day simple moving average is $39.54 and its two-hundred day simple moving average is $43.50. The stock has a market cap of $40.21 billion, a PE ratio of 25.33 and a beta of 1.10.

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

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.60% of the company’s stock.

Copart Company 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.