Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Copart, Inc. $CPRT

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Copart by 9.5% in Q4, selling 46,165 shares and leaving 439,488 shares valued at about $17.21 million.
• CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average $33.18, reducing his ownership by 24.79% to 79,532 shares (≈$2.64 million).
• Copart missed quarterly expectations with EPS of $0.36 vs. $0.39 expected and revenue of $1.12B vs. $1.15B expected (revenue down 3.6% YoY); analysts' consensus is a "Moderate Buy" with an average target of $44.40.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 439,488 shares of the business services provider's stock after selling 46,165 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Copart were worth $17,206,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in Copart during the third quarter valued at $25,000. Lodestone Wealth Management LLC purchased a new stake in shares of Copart in the 4th quarter valued at about $25,000. LRI Investments LLC boosted its position in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock valued at $29,000 after acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Copart in the third quarter worth approximately $36,000. Institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company's stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Stock Performance

CPRT stock opened at $33.11 on Friday. The company has a market capitalization of $31.90 billion, a PE ratio of 20.69 and a beta of 1.14. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85. The company's 50 day moving average price is $34.31 and its two-hundred day moving average price is $38.31.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the company posted $0.40 EPS. Copart's revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CPRT. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Copart in a research report on Monday, March 23rd. Barclays reissued an "underweight" rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.40.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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