Sean Eldridge Sells 22,485 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) COO Sean Eldridge sold 22,485 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $53.61, for a total value of $1,205,420.85. Following the sale, the chief operating officer now owns 23,317 shares in the company, valued at approximately $1,250,024.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 54.05 on Wednesday. The firm has a market capitalization of $5.92 billion, a PE ratio of 24.46 and a beta of 0.99. Copart Inc. has a 12 month low of $32.26 and a 12 month high of $54.85. The company has a 50 day moving average price of $51.46 and a 200-day moving average price of $47.14.
Copart (NASDAQ:CPRT) last issued its earnings results on Tuesday, September 20th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm had revenue of $332.70 million for the quarter. During the same quarter in the previous year, the business posted $0.41 EPS. Copart’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts expect that Copart Inc. will post $2.41 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CPRT. Advisor Group Inc. purchased a new position in shares of Copart during the second quarter worth $143,000. Skandinaviska Enskilda Banken AB publ bought a new position in Copart during the second quarter valued at approximately $201,000. Mackenzie Financial Corp bought a new position in Copart during the second quarter valued at approximately $201,000. Highbridge Capital Management LLC bought a new position in Copart during the second quarter valued at approximately $206,000. Finally, Ancora Inverness LLC bought a new position in Copart during the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
CPRT has been the topic of several recent research reports. Zacks Investment Research upgraded Copart from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a report on Wednesday, August 3rd. Northcoast Research downgraded Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Susquehanna assumed coverage on Copart in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Copart in a research report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $55.57.
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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