Mirae Asset Global Investments Co. Ltd. cut its position in Copart, Inc. (NASDAQ:CPRT) by 41.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,176 shares of the business services provider’s stock after selling 6,454 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Copart were worth $438,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Doyle Wealth Management bought a new position in Copart in the fourth quarter worth about $29,000. Lindbrook Capital LLC bought a new position in Copart in the fourth quarter worth about $41,000. First Personal Financial Services raised its holdings in Copart by 142.6% in the fourth quarter. First Personal Financial Services now owns 1,368 shares of the business services provider’s stock worth $65,000 after purchasing an additional 804 shares in the last quarter. Capital Guardian Trust Co. acquired a new position in shares of Copart during the third quarter valued at about $117,000. Finally, ETF Managers Group LLC increased its holdings in shares of Copart by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 2,535 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 345 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
In related news, EVP William E. Franklin sold 140,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the transaction, the executive vice president now owns 157,967 shares in the company, valued at approximately $9,231,591.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Englander sold 80,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $49.53, for a total transaction of $3,962,400.00. Following the completion of the transaction, the director now owns 555,128 shares in the company, valued at approximately $27,495,489.84. The disclosure for this sale can be found here. 15.99% of the stock is currently owned by corporate insiders.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Copart had a net margin of 25.75% and a return on equity of 30.20%. The firm had revenue of $484.90 million for the quarter, compared to the consensus estimate of $488.54 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 2.15 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on CPRT shares. Barrington Research restated a “hold” rating on shares of Copart in a report on Wednesday, November 21st. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Monday, February 4th. ValuEngine downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Sunday, March 3rd. SunTrust Banks set a $63.00 price objective on shares of Copart and gave the company a “buy” rating in a report on Friday, November 23rd. Finally, BidaskClub upgraded shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $59.25.
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Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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