Copart, Inc. (NASDAQ:CPRT) Director Sells $5,400,000.00 in Stock

Copart, Inc. (NASDAQ:CPRT) Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Copart Price Performance

Shares of CPRT opened at $53.63 on Monday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a market cap of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30. The stock’s fifty day moving average price is $56.43 and its two-hundred day moving average price is $56.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Copart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPRT. Sandy Spring Bank grew its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares in the last quarter. Quarry LP purchased a new position in Copart during the third quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in Copart during the fourth quarter worth about $31,000. True Wealth Design LLC grew its position in Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Copart during the fourth quarter worth about $45,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.