Copart (NASDAQ:CPRT) CEO Jeffrey Liaw Sells 27,745 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Copart Stock Down 4.1%

CPRT traded down $1.25 during trading on Thursday, hitting $29.57. 10,208,597 shares of the stock were exchanged, compared to its average volume of 11,954,005. The firm has a market capitalization of $27.38 billion, a P/E ratio of 18.37 and a beta of 1.02. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11. The stock has a fifty day moving average price of $29.91 and a two-hundred day moving average price of $33.79.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Copart

A number of large investors have recently made changes to their positions in CPRT. State Street Corp boosted its holdings in Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares in the last quarter. Capital World Investors increased its holdings in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after buying an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after acquiring an additional 131,703 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after acquiring an additional 3,918,610 shares during the period. Finally, Norges Bank acquired a new stake in shares of Copart in the 4th quarter worth approximately $569,569,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several analyst reports. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.50.

Copart Company Profile

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.