Assetmark Inc. Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Key Points

• Assetmark Inc. increased its stake in Copart, Inc. by 8.7%, owning 468,559 shares worth approximately $26.52 million at the end of the first quarter.
• Copart's quarterly earnings report showed an EPS of $0.42, matching analysts' expectations, with a revenue increase of 7.5% year-over-year.
• Insider trading activity includes CEO Jeffrey Liaw selling 24,088 shares, representing a 43.31% reduction in his position.

Assetmark Inc. grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,559 shares of the business services provider's stock after acquiring an additional 37,670 shares during the period. Assetmark Inc.'s holdings in Copart were worth $26,516,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CPRT. Brighton Jones LLC grew its holdings in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after acquiring an additional 6,817 shares during the period. LPL Financial LLC grew its stake in shares of Copart by 15.3% in the 4th quarter. LPL Financial LLC now owns 591,398 shares of the business services provider's stock valued at $33,940,000 after buying an additional 78,443 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Copart by 6.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,634 shares of the business services provider's stock valued at $782,000 after buying an additional 829 shares during the period. Korea Investment CORP grew its stake in shares of Copart by 88.9% in the 4th quarter. Korea Investment CORP now owns 529,666 shares of the business services provider's stock valued at $30,398,000 after buying an additional 249,262 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Copart by 6.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,539,807 shares of the business services provider's stock valued at $87,630,000 after buying an additional 86,652 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on 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. The trade was a 43.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CPRT shares. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.

Copart Stock Performance

Shares of Copart stock traded up $0.42 during mid-day trading on Friday, hitting $46.69. 4,690,050 shares of the stock were exchanged, compared to its average volume of 6,950,240. Copart, Inc. has a 12 month low of $45.52 and a 12 month high of $64.38. The company has a 50-day simple moving average of $49.89 and a 200 day simple moving average of $54.93. The company has a market capitalization of $45.15 billion, a P/E ratio of 30.72 and a beta of 1.07.

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

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.