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

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Copart Stock Performance

CPRT opened at $29.12 on Friday. The firm’s fifty day moving average is $29.82 and its two-hundred day moving average is $33.76. The firm has a market cap of $26.96 billion, a PE ratio of 18.09 and a beta of 1.02. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (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 analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Institutional Trading of Copart

Several institutional investors and hedge funds have recently bought and sold shares of CPRT. State Street Corp increased its position in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after purchasing an additional 492,506 shares during the last quarter. Capital World Investors raised its stake in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after buying an additional 131,703 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Copart in the fourth quarter valued at $569,569,000. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

About Copart

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.