Asahi Life Asset Management CO. LTD. Buys Shares of 7,130 Copart, Inc. (NASDAQ:CPRT)

Asahi Life Asset Management CO. LTD. bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,130 shares of the business services provider's stock, valued at approximately $403,000.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Western Pacific Wealth Management LP lifted its stake in shares of Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock worth $161,000 after buying an additional 173 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in Copart by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock valued at $577,000 after purchasing an additional 175 shares during the last quarter. Blue Trust Inc. raised its stake in Copart by 13.1% during the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after purchasing an additional 175 shares during the last quarter. Sandy Spring Bank raised its stake in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, Western Wealth Management LLC raised its stake in Copart by 4.0% during the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after purchasing an additional 192 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.68% of the company's stock.

Copart Stock Down 0.2%

Copart stock traded down $0.09 on Thursday, hitting $45.89. The company's stock had a trading volume of 10,511,898 shares, compared to its average volume of 5,027,927. The firm has a market cap of $44.37 billion, a P/E ratio of 30.19 and a beta of 1.07. The company has a fifty day moving average price of $51.83 and a 200-day moving average price of $55.39. Copart, Inc. has a one year low of $45.52 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CPRT shares. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday. Stephens started coverage on shares of Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

Copart 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.