Korea Investment CORP Sells 65,338 Shares of Copart, Inc. $CPRT

Korea Investment CORP trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,341 shares of the business services provider’s stock after selling 65,338 shares during the quarter. Korea Investment CORP’s holdings in Copart were worth $26,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after buying an additional 45,346 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Copart by 89.0% in the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after buying an additional 1,200,035 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after buying an additional 1,236,101 shares during the last quarter. Yacktman Asset Management LP bought a new position in shares of Copart in the third quarter valued at approximately $3,382,000. Finally, Comgest Global Investors S.A.S. grew its holdings in shares of Copart by 7.2% in the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after acquiring an additional 212,520 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of recent analyst reports. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reiterated an “underweight” rating and set 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. cut their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Trading Down 0.5%

NASDAQ:CPRT opened at $37.57 on Tuesday. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85. The firm’s 50 day moving average is $39.03 and its 200 day moving average is $41.76. The stock has a market capitalization of $36.19 billion, a PE ratio of 23.48 and a beta of 1.09.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company posted $0.40 earnings per share. Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

About Copart

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.