Copart, Inc. (NASDAQ:CPRT) Director Matt Blunt Sells 50,000 Shares

Copart, Inc. (NASDAQ:CPRT) Director Matt Blunt sold 50,000 shares of the firm’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 transaction of $2,883,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Copart Price Performance

NASDAQ CPRT traded down $0.33 on Monday, hitting $56.58. The company had a trading volume of 3,130,712 shares, compared to its average volume of 3,923,364. Copart, Inc. has a 12-month low of $46.49 and a 12-month high of $64.38. The company’s fifty day moving average price is $58.44 and its 200-day moving average price is $54.58. The company has a market capitalization of $54.52 billion, a PE ratio of 39.85 and a beta of 1.33.

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

Institutional Trading of Copart

Large investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its position in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank acquired a new position in Copart in the 3rd quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Meeder Asset Management Inc. increased its holdings in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Copart during the 3rd quarter valued at approximately $33,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report 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.