Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 24.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 344,200 shares of the business services provider's stock after acquiring an additional 66,734 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Copart were worth $18,983,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after acquiring an additional 976,909 shares during the period. Edgewood Management LLC raised its stake in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after buying an additional 2,907,405 shares during the last quarter. Capital World Investors raised its stake in shares of Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after buying an additional 169,354 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after buying an additional 408,677 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Copart by 2.7% during the 4th quarter. FMR LLC now owns 14,504,704 shares of the business services provider's stock valued at $832,425,000 after buying an additional 380,691 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.
Copart Trading Down 1.1%
Shares of NASDAQ CPRT traded down $0.56 during trading on Wednesday, reaching $49.08. 4,347,243 shares of the company traded hands, compared to its average volume of 4,869,615. Copart, Inc. has a 12-month low of $47.33 and a 12-month high of $64.38. The firm's fifty day simple moving average is $54.77 and its 200 day simple moving average is $56.25. The stock has a market cap of $47.46 billion, a P/E ratio of 32.29 and a beta of 1.07.
Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $0.39 EPS. Copart's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.
Insider Buying and Selling at Copart
In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.68% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
CPRT has been the subject of a number of recent research reports. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.
Check Out Our Latest Stock Report on CPRT
Copart Profile
(
Free Report)
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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