Mufg Securities Americas Inc. Invests $743,000 in Copart, Inc. (NASDAQ:CPRT)

Mufg Securities Americas Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,941 shares of the business services provider’s stock, valued at approximately $743,000.

A number of other hedge funds have also made changes to their positions in CPRT. Sandy Spring Bank increased its position in shares of 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 period. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart during the fourth quarter valued at about $45,000. Curio Wealth LLC acquired a new position in Copart during the fourth quarter worth about $52,000. Itau Unibanco Holding S.A. raised its position in Copart by 340.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider’s stock worth $53,000 after acquiring an additional 708 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in Copart in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Copart Stock Performance

NASDAQ CPRT opened at $62.42 on Thursday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The business’s fifty day moving average is $57.77 and its two-hundred day moving average is $57.81. The stock has a market capitalization of $60.30 billion, a P/E ratio of 41.89 and a beta of 1.20.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company’s stock.

About Copart

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.