Copart, Inc. (NASDAQ:CPRT) Director Diane M. Morefield Sells 30,000 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Copart Trading Down 0.1 %

NASDAQ:CPRT opened at $59.07 on Friday. The stock has a market cap of $56.92 billion, a price-to-earnings ratio of 41.60 and a beta of 1.31. The stock has a 50-day moving average price of $57.81 and a two-hundred day moving average price of $54.42. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Institutional Investors Weigh In On Copart

Several institutional investors have recently added to or reduced their stakes in the stock. Jensen Investment Management Inc. raised its stake in shares of Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. raised its position in 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 valued at $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. lifted its stake in 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 acquiring an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its position in 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 worth $83,153,000 after acquiring an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Copart during the 2nd quarter worth approximately $70,307,000. 85.78% of the stock is owned by institutional investors.

About Copart

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.