Copart (NASDAQ:CPRT) CEO Jeffrey Liaw Sells 27,745 Shares

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

Copart Stock Performance

Shares of CPRT stock opened at $29.57 on Friday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The stock has a market cap of $27.38 billion, a PE ratio of 18.37 and a beta of 1.02. The firm’s 50 day moving average price is $29.91 and its two-hundred day moving average price is $33.79.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRT. Norges Bank acquired a new stake in shares of Copart during the fourth quarter worth about $569,569,000. Capital World Investors grew its position in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the period. Capital International Investors acquired a new position in shares of Copart in the 4th quarter valued at approximately $195,637,000. Deutsche Bank AG increased its stake in Copart by 94.0% during the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after purchasing an additional 4,823,111 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Company Profile

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.