634,292 Shares in Copart, Inc. $CPRT Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 634,292 shares of the business services provider’s stock, valued at approximately $17,303,000. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Copart at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in shares of Copart by 2.9% during the third quarter. ProShare Advisors LLC now owns 1,025,993 shares of the business services provider’s stock valued at $27,989,000 after acquiring an additional 29,212 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Copart in the 3rd quarter worth about $5,601,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Copart by 11.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 31,197 shares of the business services provider’s stock worth $847,000 after acquiring an additional 3,321 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Copart by 31.5% in the 3rd quarter. D.A. Davidson & CO. now owns 27,237 shares of the business services provider’s stock worth $743,000 after acquiring an additional 6,525 shares during the period. Finally, Redmond Asset Management LLC lifted its position in Copart by 5.3% in the 3rd quarter. Redmond Asset Management LLC now owns 92,143 shares of the business services provider’s stock valued at $2,514,000 after purchasing an additional 4,618 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPRT has been the subject of a number of analyst reports. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. HSBC cut Copart from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $36.00 in a report on Wednesday, September 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Tuesday, October 27th. Finally, BNP Paribas Exane reiterated an “outperform” rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.90.

Copart Stock Down 2.7%

Shares of CPRT opened at $31.06 on Wednesday. The firm has a 50-day moving average price of $29.48 and a 200 day moving average price of $32.35. The firm has a market capitalization of $28.77 billion, a PE ratio of 20.04, a P/E/G ratio of 1.56 and a beta of 1.01. Copart, Inc. has a 52-week low of $25.72 and a 52-week high of $43.38.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Copart, Inc. will post 1.63 EPS for the current year.

Insider Activity

In other news, Director Diane Morefield sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.30% of the stock is owned by company insiders.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.