Copart (NASDAQ:CPRT) Stock Passes Above 200 Day Moving Average – Time to Sell?

Copart, Inc. (NASDAQ:CPRT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $54.57 and traded as high as $58.01. Copart shares last traded at $56.32, with a volume of 5,589,617 shares trading hands.

Analyst Upgrades and Downgrades

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

Copart Trading Up 1.0 %

The firm’s 50-day moving average price is $58.44 and its 200 day moving average price is $54.58. The company has a market capitalization of $54.83 billion, a price-to-earnings ratio of 40.08 and a beta of 1.31.

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

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,733 shares of company stock worth $22,932,130 in the last ninety days. 9.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in shares of Copart during the second quarter worth $53,000. Commonwealth Equity Services LLC raised its position in Copart by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 149,390 shares of the business services provider’s stock worth $8,091,000 after purchasing an additional 1,098 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Copart by 13.3% during the 2nd quarter. Larson Financial Group LLC now owns 5,256 shares of the business services provider’s stock worth $285,000 after buying an additional 616 shares during the period. Arizona State Retirement System grew its position in shares of Copart by 5.6% in the 2nd quarter. Arizona State Retirement System now owns 250,969 shares of the business services provider’s stock valued at $13,592,000 after buying an additional 13,270 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Copart by 374.1% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,560 shares of the business services provider’s stock worth $139,000 after acquiring an additional 2,020 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

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.