Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,466 shares of the business services provider’s stock after buying an additional 25,408 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Copart were worth $16,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp increased its stake in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC raised its holdings in Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Geode Capital Management LLC raised its holdings in Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares during the last quarter. Finally, Barclays PLC boosted its position in Copart by 0.4% during the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after buying an additional 21,710 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last quarter. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Copart Stock Up 1.5 %

Shares of Copart stock opened at $58.72 on Thursday. The company has a market cap of $56.58 billion, a PE ratio of 41.35 and a beta of 1.33. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The business has a 50 day moving average of $58.78 and a 200 day moving average of $55.06.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Company 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.