Copart, Inc. (NASDAQ:CPRT) Director Matt Blunt Sells 50,000 Shares

Copart, Inc. (NASDAQ:CPRT) Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Copart Stock Down 0.6 %

NASDAQ CPRT opened at $56.24 on Wednesday. The firm’s 50 day moving average is $58.62 and its 200-day moving average is $54.61. The company has a market capitalization of $54.19 billion, a PE ratio of 39.61 and a beta of 1.33. Copart, Inc. has a 12-month low of $46.49 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Institutional Trading of Copart

A number of hedge funds and other institutional investors have recently modified their holdings of CPRT. Optimum Investment Advisors grew its stake in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its stake in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Copart during the third quarter worth $33,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.