Insider Selling: Copart, Inc. (NASDAQ:CPRT) Director Sells 30,000 Shares of Stock

Copart, Inc. (NASDAQ:CPRT - Get Free Report) Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company's stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Copart Trading Down 0.1 %

CPRT stock traded down $0.04 during trading on Thursday, hitting $59.07. The company had a trading volume of 2,103,845 shares, compared to its average volume of 4,409,622. The company has a fifty day moving average price of $57.81 and a two-hundred day moving average price of $54.42. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The company has a market cap of $56.92 billion, a P/E ratio of 41.60 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its position in Copart by 0.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider's stock worth $1,447,000 after buying an additional 213 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Copart during the third quarter worth approximately $1,206,000. American Trust bought a new stake in shares of Copart during the third quarter valued at approximately $598,000. Franklin Resources Inc. grew its stake in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of Copart by 6.5% in the third quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider's stock valued at $5,484,000 after purchasing an additional 6,385 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Robert W. Baird decreased their target price on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th.

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.