Insider Selling: Copart, Inc. (NASDAQ:CPRT) Director Sells $12,648,609.00 in Stock

Copart, Inc. (NASDAQ:CPRT – Get Rating) Director Thomas N. Tryforos sold 143,100 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $88.39, for a total transaction of $12,648,609.00. Following the completion of the sale, the director now directly owns 16,900 shares in the company, valued at $1,493,791. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Copart Stock Up 1.5 %

CPRT opened at $87.75 on Friday. Copart, Inc. has a twelve month low of $51.10 and a twelve month high of $89.79. The company has a 50-day simple moving average of $77.88 and a 200 day simple moving average of $69.49. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of 36.72 and a beta of 1.23.

Copart (NASDAQ:CPRT – Get Rating) last released its earnings results on Wednesday, May 17th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.08. Copart had a net margin of 30.72% and a return on equity of 22.80%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. Copart’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Copart, Inc. will post 2.35 EPS for the current fiscal year.

Institutional Trading of Copart

Several large investors have recently made changes to their positions in CPRT. Ethic Inc. lifted its holdings in shares of Copart by 124.4% in the 3rd quarter. Ethic Inc. now owns 18,627 shares of the business services provider’s stock worth $1,982,000 after purchasing an additional 10,327 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Copart by 1,446.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 758 shares of the business services provider’s stock worth $46,000 after acquiring an additional 709 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Copart by 99.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 72,965 shares of the business services provider’s stock worth $4,443,000 after acquiring an additional 36,367 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Copart by 91.1% during the 4th quarter. Capital Analysts LLC now owns 7,460 shares of the business services provider’s stock worth $454,000 after buying an additional 3,557 shares in the last quarter. Finally, Argent Trust Co lifted its position in shares of Copart by 100.0% during the 4th quarter. Argent Trust Co now owns 8,356 shares of the business services provider’s stock worth $509,000 after buying an additional 4,178 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPRT. Northcoast Research downgraded Copart from a “buy” rating to a “neutral” rating in a research note on Monday, May 1st. Robert W. Baird upped their target price on Copart from $78.00 to $90.00 in a research report on Thursday, May 18th. StockNews.com started coverage on Copart in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Stephens reiterated an “overweight” rating and set a $78.00 price objective on shares of Copart in a research report on Tuesday, February 21st. Finally, Guggenheim increased their price objective on Copart from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

About Copart

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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.