Jeffrey Liaw Sells 24,283 Shares of Copart (NASDAQ:CPRT) Stock

Key Points

• CEO Jeffrey Liaw sold 24,283 shares of Copart stock at an average price of $44.79, totaling approximately $1.09 million, leading to a 43.66% decrease in his ownership.
• Copart reported earnings of $0.41 EPS for the last quarter, surpassing analysts' expectations of $0.37, while revenue grew by 2.9% year-over-year.
• Institutional investors collectively hold 85.78% of Copart's stock, with Vanguard Group increasing its holdings by 2.1% during the last quarter.

Copart, Inc. (NASDAQ:CPRT - Get Free Report) CEO Jeffrey Liaw sold 24,283 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares of the company's stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Copart Stock Up 0.6%

CPRT stock traded up $0.28 during mid-day trading on Friday, reaching $44.34. The company had a trading volume of 5,024,510 shares, compared to its average volume of 6,028,805. Copart, Inc. has a one year low of $43.32 and a one year high of $64.38. The stock has a market capitalization of $42.91 billion, a P/E ratio of 27.71 and a beta of 1.03. The stock's 50-day simple moving average is $46.64 and its two-hundred day simple moving average is $50.98.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Copart by 2.1% during the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider's stock valued at $5,221,483,000 after buying an additional 2,144,946 shares in the last quarter. Principal Financial Group Inc. grew its stake in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after buying an additional 1,249,687 shares during the last quarter. State Street Corp raised its holdings in Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider's stock worth $1,786,467,000 after acquiring an additional 1,167,265 shares during the period. Geode Capital Management LLC boosted its holdings in Copart by 3.3% during the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider's stock valued at $999,305,000 after acquiring an additional 656,333 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent analyst reports. Stephens decreased their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $54.50.

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.

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