Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Copart, Inc. by 7.1%, acquiring an additional 19,317 shares to hold a total of 289,564 shares valued at $16.3 million.
• CEO Jeffrey Liaw sold 24,088 shares of Copart at an average price of $46.43, marking a significant decrease of 43.31% in his holdings.
• Copart's stock is currently valued at approximately $47.20, with analysts setting new target prices ranging from $50.00 to $55.00 after recent earnings reports.

Resona Asset Management Co. Ltd. raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,564 shares of the business services provider's stock after purchasing an additional 19,317 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Copart were worth $16,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CPRT. Brighton Jones LLC increased its position in shares of Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Copart by 18.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 80,397 shares of the business services provider's stock valued at $4,614,000 after buying an additional 12,542 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in Copart during the 4th quarter worth $771,000. Summit Investment Advisors Inc. lifted its position in Copart by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 39,197 shares of the business services provider's stock valued at $2,250,000 after acquiring an additional 1,371 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Copart in the fourth quarter valued at $808,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart 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 transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

NASDAQ:CPRT traded up $0.22 during mid-day trading on Friday, hitting $47.08. 4,688,357 shares of the company's stock traded hands, compared to its average volume of 5,683,886. The company has a market cap of $45.52 billion, a PE ratio of 30.97 and a beta of 1.04. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The firm's 50 day simple moving average is $47.61 and its 200 day simple moving average is $53.95.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stephens assumed coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th.

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.