Insider Selling: Copart, Inc. (NASDAQ:CPRT) Chairman Sells 251,423 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Copart Stock Performance

CPRT stock traded up $0.01 during mid-day trading on Friday, hitting $63.52. 1,162,761 shares of the company were exchanged, compared to its average volume of 4,464,005. The firm has a market cap of $61.20 billion, a P/E ratio of 44.83 and a beta of 1.27. The firm’s 50 day simple moving average is $54.82 and its 200 day simple moving average is $53.44. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. increased their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird cut their price target 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.

Institutional Trading of Copart

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRT. Optimum Investment Advisors raised its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart in the third quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC raised its holdings in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

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.