Insider Selling: Copart, Inc. (NASDAQ:CPRT) Director Sells 100,000 Shares of Stock

Copart, Inc. (NASDAQ:CPRT) Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.22 during trading on Friday, reaching $53.63. The stock had a trading volume of 5,952,411 shares, compared to its average volume of 4,025,435. The business’s 50-day moving average price is $56.47 and its 200 day moving average price is $55.99. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the period. Principal Financial Group Inc. lifted its position in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp lifted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC boosted its stake in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock worth $1,225,502,000 after buying an additional 169,354 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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.