Copart, Inc. (NASDAQ:CPRT) Director Sells $2,883,000.00 in Stock

Copart, Inc. (NASDAQ:CPRT) Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Copart Stock Performance

Shares of CPRT opened at $56.78 on Thursday. Copart, Inc. has a one year low of $46.82 and a one year high of $64.38. The stock has a 50-day moving average price of $58.71 and a 200 day moving average price of $54.63. The company has a market capitalization of $54.71 billion, a P/E ratio of 39.99 and a beta of 1.33.

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

Institutional Investors Weigh In On Copart

A number of institutional investors have recently made changes to their positions in the company. Jensen Investment Management Inc. lifted its stake in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. grew its position in shares of Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Copart during the second quarter worth about $70,307,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, 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.

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.