Copart, Inc. $CPRT Stock Holdings Increased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 7.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 234,358 shares of the business services provider’s stock after purchasing an additional 15,807 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Copart were worth $6,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Copart during the 2nd quarter valued at approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in Copart in the 2nd quarter worth approximately $488,663,000. Deutsche Bank AG purchased a new stake in Copart in the 2nd quarter worth approximately $436,413,000. Bank of America Corp DE increased its holdings in Copart by 28.7% in the 1st quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after acquiring an additional 2,165,708 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Copart by 97.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock worth $255,381,000 after acquiring an additional 4,482,226 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Diane Morefield sold 20,000 shares of Copart stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total transaction of $553,200.00. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,383,000. This trade represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Down 0.4%

NASDAQ:CPRT opened at $32.48 on Friday. The business’s 50-day simple moving average is $29.47 and its two-hundred day simple moving average is $32.26. The stock has a market cap of $30.09 billion, a PE ratio of 20.95, a P/E/G ratio of 1.60 and a beta of 1.01. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $42.05.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS 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 analysts’ expectations of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. Copart’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Sell-side analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday, September 3rd. BNP Paribas Exane reiterated an “outperform” rating and issued a $43.00 price target (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Barrington Research raised shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Friday, September 11th. Finally, HSBC cut shares of Copart from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $46.00 to $36.00 in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.90.

About Copart

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.