Jeffrey Liaw Sells 26,213 Shares of Copart (NASDAQ:CPRT) Stock
by Scott Moore · The Cerbat GemCopart, Inc. (NASDAQ:CPRT – Get Free Report) CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Copart Price Performance
Shares of CPRT stock traded up $0.18 during midday trading on Friday, reaching $33.45. 17,862,944 shares of the company traded hands, compared to its average volume of 9,222,479. The firm’s 50 day simple moving average is $35.32 and its two-hundred day simple moving average is $39.09. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85. The firm has a market cap of $32.22 billion, a PE ratio of 20.91 and a beta of 1.14.
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
CPRT has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. decreased their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $44.40.
Get Our Latest Stock Report on Copart
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of CPRT. Brighton Jones LLC raised its holdings in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC acquired a new position in Copart in the 2nd quarter valued at $2,677,000. Sei Investments Co. raised its holdings in Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after acquiring an additional 13,860 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.
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.