Copart, Inc. (NASDAQ:CPRT) Chairman Sells $16,038,273.17 in Stock

Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Copart Stock Performance

Shares of CPRT opened at $63.39 on Friday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The company’s 50 day simple moving average is $55.06 and its 200 day simple moving average is $53.51. The company has a market capitalization of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on CPRT shares. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Hedge Funds Weigh In On Copart

Several large investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in Copart in the third quarter valued at approximately $29,000. Quarry LP purchased a new stake in Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

About Copart

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.