Insider Selling: Copart, Inc. (CPRT) Director Sells $5,492,800.00 in Stock
Copart, Inc. (NASDAQ:CPRT) Director James E. Meeks sold 160,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $120,155. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Copart, Inc. (NASDAQ CPRT) opened at 34.78 on Thursday. Copart, Inc. has a 12-month low of $25.37 and a 12-month high of $34.85. The firm’s 50-day moving average is $32.85 and its 200-day moving average is $34.89. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.95 and a beta of 1.19.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The company had revenue of $378.60 million during the quarter, compared to the consensus estimate of $355.42 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Copart’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Copart, Inc. will post $1.42 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp purchased a new stake in Copart during the second quarter worth approximately $1,418,000. Principal Financial Group Inc. grew its stake in Copart by 106.5% during the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after buying an additional 3,826,242 shares during the period. Capital Fund Management S.A. purchased a new stake in Copart during the second quarter worth approximately $4,179,000. BlueCrest Capital Management Ltd purchased a new stake in Copart during the first quarter worth approximately $254,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in Copart by 127.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock worth $208,433,000 after buying an additional 3,672,956 shares during the period. Institutional investors own 79.74% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 target price on shares of Copart in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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