Copart, Inc. (NASDAQ:CPRT) Director Sells $5,400,000.00 in Stock

Copart, Inc. (NASDAQ:CPRT) Director James E. Meeks sold 100,000 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Copart Stock Performance

CPRT stock traded down $0.22 during trading on Friday, reaching $53.63. The company had a trading volume of 5,952,411 shares, compared to its average volume of 4,025,435. The firm has a 50-day simple moving average of $56.47 and a 200-day simple moving average of $55.99. The company has a market cap of $51.81 billion, a price-to-earnings ratio of 35.99 and a beta of 1.30. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of 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 have recently made changes to their positions in the company. Sandy Spring Bank increased its holdings in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Quarry LP purchased a new position in Copart during the third quarter valued at $29,000. Sunbelt Securities Inc. acquired a new stake in shares of Copart in the fourth quarter valued at about $31,000. True Wealth Design LLC increased its stake in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Copart during the 4th quarter worth about $45,000. 85.78% of the stock is owned by hedge funds and other 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.