Insider Selling: Copart, Inc. (NASDAQ:CPRT) Director Sells $1,740,300.00 in Stock

Copart, Inc. (NASDAQ:CPRT) Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Copart Trading Down 1.0 %

Copart stock opened at $58.46 on Friday. The business’s 50 day simple moving average is $57.90 and its 200 day simple moving average is $54.46. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The company has a market cap of $56.33 billion, a price-to-earnings ratio of 41.17 and a beta of 1.31.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Hedge Funds Weigh In On Copart

Several hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors boosted its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the period. Eastern Bank bought a new position in Copart in the 3rd quarter valued at $29,000. Quarry LP bought a new position in Copart in the 3rd quarter valued at $29,000. Crewe Advisors LLC grew its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.