Copart (NASDAQ:CPRT) CEO Sells $845,945.05 in Stock

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Copart Trading Down 1.5%

NASDAQ CPRT opened at $29.12 on Friday. The firm’s fifty day simple moving average is $29.82 and its two-hundred day simple moving average is $33.76. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The firm has a market capitalization of $26.96 billion, a P/E ratio of 18.09 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Institutional Trading of Copart

Several large investors have recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in shares of Copart in the fourth quarter worth about $25,000. Versant Capital Management Inc lifted its holdings in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares during the period. Cache Advisors LLC purchased a new stake in Copart in the first quarter valued at approximately $31,000. Reflection Asset Management purchased a new stake in Copart in the fourth quarter valued at approximately $34,000. Finally, Elevation Wealth Partners LLC increased its holdings in Copart by 882.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider’s stock worth $34,000 after buying an additional 1,094 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPRT. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday. Barclays set a $26.00 price objective on shares of Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Finally, Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.50.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.