Daiichi Life Insurance Co. Ltd. Invests $845,000 in Copart, Inc. $CPRT

Daiichi Life Insurance Co. Ltd. bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,962 shares of the business services provider’s stock, valued at approximately $845,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Copart during the second quarter worth approximately $1,908,980,000. State Street Corp lifted its position in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares during the last quarter. Capital World Investors boosted its holdings in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after buying an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after buying an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 1.6%

Shares of CPRT stock opened at $33.26 on Tuesday. The stock’s 50-day moving average price is $29.55 and its 200 day moving average price is $32.62. The stock has a market capitalization of $30.79 billion, a PE ratio of 20.66 and a beta of 1.01. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus target price of $41.67.

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.