Insider Selling: Copart (NASDAQ:CPRT) CEO Sells $1,087,635.57 in Stock

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $44.34 on Monday. The firm has a 50 day moving average price of $46.61 and a two-hundred day moving average price of $50.80. The stock has a market cap of $42.91 billion, a P/E ratio of 27.71 and a beta of 1.03. Copart, Inc. has a 52-week low of $43.32 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. Copart’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Copart

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of 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 buying an additional 6,817 shares during the period. GAMMA Investing LLC grew its stake in Copart by 21.5% in the first quarter. GAMMA Investing LLC now owns 20,352 shares of the business services provider’s stock valued at $1,152,000 after acquiring an additional 3,598 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Copart by 10.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,595 shares of the business services provider’s stock valued at $5,466,000 after acquiring an additional 8,982 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Copart during the first quarter worth approximately $604,000. Finally, NBT Bank N A NY bought a new position in shares of Copart in the 1st quarter worth $352,000. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPRT. Stephens reduced their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.