Copart (NASDAQ:CPRT) CEO Sells 27,745 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Copart Trading Down 4.1%

Shares of CPRT stock traded down $1.25 during mid-day trading on Thursday, reaching $29.57. The stock had a trading volume of 10,208,597 shares, compared to its average volume of 11,954,005. The company has a market cap of $27.38 billion, a P/E ratio of 18.37 and a beta of 1.02. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The business has a 50-day simple moving average of $29.91 and a 200 day simple moving average of $33.79.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. Research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Copart

Several hedge funds have recently modified their holdings of the company. Regent Peak Wealth Advisors LLC purchased a new position in shares of Copart during the second quarter valued at approximately $206,000. Tema ETFs LLC grew its stake in Copart by 57.1% in the 2nd quarter. Tema ETFs LLC now owns 19,692 shares of the business services provider’s stock worth $555,000 after acquiring an additional 7,154 shares during the period. Handelsbanken Fonder AB grew its stake in Copart by 6.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares during the period. Legacy Wealth Asset Management LLC acquired a new position in Copart in the 2nd quarter valued at $224,000. Finally, Sunburst Financial Group LLC raised its holdings in Copart by 11.4% in the 2nd quarter. Sunburst Financial Group LLC now owns 9,703 shares of the business services provider’s stock valued at $274,000 after acquiring an additional 993 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CPRT. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.50.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.