Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 2,257,526 Copart, Inc. $CPRT

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,257,526 shares of the business services provider’s stock, valued at approximately $63,640,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Copart as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Copart during the second quarter valued at about $236,000. Bank of New York Mellon Corp bought a new stake in shares of Copart in the second quarter valued at approximately $488,663,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Copart during the 2nd quarter valued at approximately $1,298,000. Kelleher Financial Advisors purchased a new stake in shares of Copart during the 2nd quarter valued at approximately $53,000. Finally, GSA Capital Partners LLP bought a new position in Copart in the 2nd quarter worth approximately $2,107,000. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated 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 $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $33.85 on Thursday. The firm has a fifty day moving average price of $29.37 and a two-hundred day moving average price of $32.74. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 21.02 and a beta of 1.01. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

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

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.50.

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.