Copart, Inc. (NASDAQ:CPRT) Director Sells 235,480 Shares

by · The Cerbat Gem

Copart, Inc. (NASDAQ:CPRT – Get Free Report) Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Copart Stock Down 0.6 %

Shares of Copart stock traded down $0.34 during trading on Tuesday, hitting $56.24. 2,662,921 shares of the company were exchanged, compared to its average volume of 3,613,880. Copart, Inc. has a fifty-two week low of $46.49 and a fifty-two week high of $64.38. The firm has a 50 day moving average price of $58.54 and a 200 day moving average price of $54.60. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 39.61 and a beta of 1.33.

Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Copart

A number of large investors have recently modified their holdings of CPRT. New York Life Investment Management LLC lifted its position in Copart by 0.7% during the second quarter. New York Life Investment Management LLC now owns 120,038 shares of the business services provider’s stock valued at $6,501,000 after buying an additional 781 shares in the last quarter. Private Advisor Group LLC increased its holdings in Copart by 5.6% in the 2nd quarter. Private Advisor Group LLC now owns 25,781 shares of the business services provider’s stock valued at $1,396,000 after purchasing an additional 1,364 shares in the last quarter. Candriam S.C.A. raised its position in Copart by 7.1% in the second quarter. Candriam S.C.A. now owns 51,104 shares of the business services provider’s stock valued at $2,768,000 after purchasing an additional 3,382 shares during the period. Savant Capital LLC lifted its stake in shares of Copart by 3.5% during the second quarter. Savant Capital LLC now owns 7,732 shares of the business services provider’s stock worth $419,000 after purchasing an additional 265 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Copart in the second quarter worth about $73,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Get Our Latest Stock Analysis on CPRT

About Copart

(Get Free Report)

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.

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