Insider Selling: Copart Inc. (CPRT) Director Sells $3,479,450.00 in Stock
Copart Inc. (NASDAQ:CPRT) Director Matt Blunt sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $53.53, for a total value of $3,479,450.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $802,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 53.02 on Friday. The company has a market capitalization of $5.81 billion, a PE ratio of 23.99 and a beta of 0.99. The firm’s 50-day moving average price is $51.65 and its 200 day moving average price is $47.28. Copart Inc. has a 1-year low of $32.26 and a 1-year high of $54.85.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The firm earned $332.70 million during the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Equities analysts predict that Copart Inc. will post $2.42 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on CPRT shares. Zacks Investment Research upgraded Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a report on Wednesday, August 3rd. Northcoast Research cut Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Barrington Research cut Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Susquehanna assumed coverage on Copart in a report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Jefferies Group reiterated a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.57.
A number of large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in Copart by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 14,154 shares of the company’s stock valued at $694,000 after buying an additional 91 shares during the period. Montag & Caldwell LLC raised its stake in Copart by 0.6% in the second quarter. Montag & Caldwell LLC now owns 17,540 shares of the company’s stock valued at $860,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. raised its stake in Copart by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,967 shares of the company’s stock valued at $488,000 after buying an additional 233 shares during the period. Ameritas Investment Partners Inc. raised its stake in Copart by 2.4% in the second quarter. Ameritas Investment Partners Inc. now owns 15,739 shares of the company’s stock valued at $771,000 after buying an additional 375 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Copart by 5.2% in the second quarter. CIBC Asset Management Inc now owns 10,138 shares of the company’s stock valued at $497,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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