Insider Selling: Copart (NASDAQ:CPRT) Director Sells 228,840 Shares of Stock

Key Points

• Thomas Tryforos, a director at Copart, sold **228,840 shares** of the company's stock on September 15 for a total of **$10.88 million** at an average price of **$47.54 per share**.
• Copart recently reported earnings of **$0.41 per share**, exceeding analysts' estimates of **$0.37**, with a revenue of **$1.13 billion** for the quarter, marking a **2.9% increase** from the same period last year.
• Investment analysts have varying targets for Copart's stock, with a consensus average target price of **$54.50**, indicating a generally **moderate buy** rating from analysts.

Copart, Inc. (NASDAQ:CPRT - Get Free Report) Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.39 during midday trading on Friday, hitting $45.85. 20,163,202 shares of the company's stock traded hands, compared to its average volume of 7,097,659. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The company has a market cap of $44.33 billion, a PE ratio of 28.66 and a beta of 1.03. The firm's fifty day moving average price is $47.22 and its two-hundred day moving average price is $52.20.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPRT. Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird dropped their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Copart currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Copart in the second quarter worth $549,448,000. Nuveen LLC bought a new position in Copart in the 1st quarter worth approximately $267,723,000. Fiera Capital Corp increased its stake in Copart by 75.3% in the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider's stock worth $343,511,000 after acquiring an additional 3,007,820 shares during the last quarter. First Trust Advisors LP increased its stake in Copart by 75.2% in the 2nd quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider's stock worth $322,851,000 after acquiring an additional 2,824,991 shares during the last quarter. Finally, PineStone Asset Management Inc. increased its position in shares of Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider's stock valued at $314,415,000 after purchasing an additional 2,310,067 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

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.