Insider Selling: Copart, Inc. (NASDAQ:CPRT) Chairman Sells 600,000 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Copart Stock Performance

Shares of CPRT stock opened at $57.25 on Wednesday. The firm has a fifty day moving average of $52.83 and a 200-day moving average of $49.06. Copart, Inc. has a 52-week low of $36.78 and a 52-week high of $58.58. The stock has a market cap of $55.05 billion, a price-to-earnings ratio of 41.19 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPRT. JPMorgan Chase & Co. began coverage on shares of Copart in a research note on Tuesday, February 27th. They set a “neutral” rating and a $48.00 target price for the company. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus price target of $50.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CPRT. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Copart by 1,212.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock worth $390,000 after purchasing an additional 2,873 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Copart by 14.6% during the first quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock worth $1,061,000 after buying an additional 1,079 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Copart by 52.1% in the first quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after acquiring an additional 3,707 shares during the last quarter. National Pension Service grew its position in Copart by 5.0% during the 1st quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock worth $35,998,000 after acquiring an additional 13,666 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Copart by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after purchasing an additional 270,867 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

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.