Copart, Inc. (NASDAQ:CPRT) Chairman Sells $34,662,000.00 in Stock

Copart, Inc. (NASDAQ:CPRTGet Free Report) Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Copart Stock Up 0.2 %

CPRT opened at $57.37 on Thursday. The firm’s 50-day moving average price is $53.01 and its 200-day moving average price is $49.11. The company has a market cap of $55.16 billion, a P/E ratio of 41.27 and a beta of 1.22. Copart, Inc. has a 52-week low of $36.78 and a 52-week high of $58.58.

Copart (NASDAQ:CPRTGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. Copart’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. On average, research analysts anticipate that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. started coverage on shares of Copart in a report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $50.00.

Check Out Our Latest Stock Analysis on CPRT

Institutional Investors Weigh In On Copart

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Copart by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 99,100,699 shares of the business services provider’s stock worth $4,855,934,000 after acquiring an additional 1,588,037 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares during the period. Capital World Investors grew its holdings in Copart by 1.0% during the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after acquiring an additional 207,349 shares during the period. Wellington Management Group LLP lifted its holdings in Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

About Copart

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Copart (NASDAQ:CPRT)

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