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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Norges Bank acquired a new position in shares of Copart in the fourth quarter worth $682,089,000. Madison Investment Advisors LLC acquired a new position in Copart in the 4th quarter worth about $253,686,000. Bank of New York Mellon Corp raised its stake in shares of Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Edgewood Management LLC raised its stake in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Copart by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock valued at $812,488,000 after buying an additional 1,785,741 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.0%

Shares of NASDAQ:CPRT opened at $62.42 on Thursday. The stock has a market capitalization of $60.30 billion, a PE ratio of 41.89 and a beta of 1.20. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a fifty day moving average price of $57.77 and a 200 day moving average price of $57.81.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock valued at $11,401,000 over the last 90 days. 9.68% of the stock is currently owned by company insiders.

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.