Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair Sells 251,423 Shares

Copart, Inc. (NASDAQ:CPRT) Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Copart Price Performance

Shares of CPRT opened at $63.39 on Friday. Copart, Inc. has a one year low of $46.21 and a one year high of $64.38. The company has a 50-day simple moving average of $54.82 and a two-hundred day simple moving average of $53.44. The firm has a market capitalization of $61.08 billion, a PE ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Trading of Copart

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Manning & Napier Advisors LLC bought a new stake in Copart during the second quarter worth about $109,382,000. Kinsale Capital Group Inc. boosted its position in shares of Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 13,554 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Copart by 162.9% in the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after buying an additional 114,263 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Copart during the 2nd quarter valued at approximately $5,418,000. Finally, Assenagon Asset Management S.A. raised its stake in Copart by 263.0% during the second quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock valued at $35,307,000 after buying an additional 472,318 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CPRT. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.