Copart, Inc. (NASDAQ:CPRT) Chairman Sells $16,038,273.17 in Stock

Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Copart Stock Down 0.2 %

Shares of Copart stock opened at $63.39 on Friday. The company has a market capitalization of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. The stock’s 50-day simple moving average is $54.82 and its 200-day simple moving average is $53.44. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Institutional Trading of Copart

Several hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. grew its holdings in Copart by 17.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 26,291 shares of the business services provider’s stock valued at $1,523,000 after buying an additional 3,843 shares in the last quarter. Virtu Financial LLC bought a new stake in Copart in the first quarter worth $405,000. Atria Investments Inc raised its stake in Copart by 6.6% during the first quarter. Atria Investments Inc now owns 97,044 shares of the business services provider’s stock valued at $5,621,000 after purchasing an additional 6,026 shares in the last quarter. Cetera Investment Advisers lifted its position in Copart by 162.9% during the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after purchasing an additional 114,263 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Copart by 72.0% in the 1st quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider’s stock worth $2,072,000 after buying an additional 14,971 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Company Profile

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.