Diane M. Morefield Sells 30,000 Shares of Copart, Inc. (NASDAQ:CPRT) Stock

Copart, Inc. (NASDAQ:CPRT) Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Copart Stock Down 1.0 %

Shares of NASDAQ:CPRT opened at $58.46 on Friday. The stock has a market cap of $56.33 billion, a PE ratio of 41.17 and a beta of 1.31. The company’s fifty day moving average is $57.90 and its 200 day moving average is $54.46. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38.

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

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Optimum Investment Advisors boosted its position in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the period. Eastern Bank bought a new position in shares of Copart during the third quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Copart during the third quarter worth about $29,000. Crewe Advisors LLC grew its stake in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the period. Institutional investors own 85.78% of the company’s stock.

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.