Jeffrey Liaw Sells 26,213 Shares of Copart (NASDAQ:CPRT) Stock

Copart, Inc. (NASDAQ:CPRT) CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $33.45 on Friday. The company has a fifty day moving average of $35.18 and a 200-day moving average of $38.97. The company has a market capitalization of $32.22 billion, a PE ratio of 20.91 and a beta of 1.14. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Copart

A number of hedge funds have recently bought and sold shares of CPRT. Norges Bank bought a new position in Copart during the fourth quarter worth $569,569,000. Capital World Investors grew its stake in Copart by 25.1% during the fourth 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 during the period. Capital International Investors acquired a new stake in Copart during the fourth quarter worth approximately $195,637,000. Deutsche Bank AG grew its stake in Copart by 94.0% during the fourth 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 during the period. Finally, Bank of New York Mellon Corp grew its stake in Copart by 21.7% during the fourth 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 during the period. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a report on Monday, March 23rd. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. cut their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.40.

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.