Copart, Inc. (NASDAQ:CPRT) Director Sells $5,700,769.97 in Stock

Copart, Inc. (NASDAQ:CPRT) Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Steven D. Cohan also recently made the following trade(s):

• On Friday, April 11th, Steven D. Cohan sold 5,003 shares of Copart stock. The shares were sold at an average price of $60.01, for a total value of $300,230.03.

Copart Stock Performance

Shares of CPRT opened at $60.45 on Wednesday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $58.40 billion, a price-to-earnings ratio of 40.57 and a beta of 1.22. The firm has a 50 day moving average price of $56.17 and a 200-day moving average price of $56.75.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Copart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Copart during the fourth quarter valued at approximately $682,089,000. Madison Investment Advisors LLC purchased a new stake in Copart during the 4th quarter valued at $253,686,000. Bank of New York Mellon Corp grew its holdings in Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the last quarter. Edgewood Management LLC increased its position in shares of Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Copart by 335.8% during the third 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 during the last quarter. 85.78% of the stock is currently 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.