Matt Blunt Sells 65,000 Shares of Copart Inc. (CPRT) Stock
Copart Inc. (NASDAQ:CPRT) Director Matt Blunt sold 65,000 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $53.53, for a total value of $3,479,450.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $802,950. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Copart Inc. (NASDAQ:CPRT) opened at 53.92 on Thursday. Copart Inc. has a 52-week low of $32.26 and a 52-week high of $54.85. The stock’s 50 day moving average price is $51.59 and its 200-day moving average price is $47.24. The firm has a market capitalization of $5.91 billion, a PE ratio of 24.40 and a beta of 0.99.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $332.70 million for the quarter. Copart had a net margin of 21.25% and a return on equity of 31.42%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Equities research analysts anticipate that Copart Inc. will post $2.42 EPS for the current fiscal year.
Several equities research analysts have weighed in on CPRT shares. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $63.00 in a research report on Friday, September 23rd. Jefferies Group reaffirmed a “hold” rating on shares of Copart in a research report on Thursday, August 4th. Susquehanna started coverage on Copart in a research report on Thursday, August 25th. They set a “neutral” rating and a $53.00 price target on the stock. Finally, Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a research report on Friday, September 23rd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.57.
Several institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. bought a new position in Copart during the second quarter worth $143,000. Skandinaviska Enskilda Banken AB publ bought a new position in Copart during the second quarter worth $201,000. Mackenzie Financial Corp bought a new position in Copart during the second quarter worth $201,000. Highbridge Capital Management LLC bought a new position in Copart during the second quarter worth $206,000. Finally, Ancora Inverness LLC bought a new position in Copart during the first quarter worth $207,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.
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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