Copart director Steven Cohan sells $6 million in stock

Published 15/04/2025, 16:06
Copart director Steven Cohan sells $6 million in stock

Steven D. Cohan, a director at Copart Inc . (NASDAQ:CPRT), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Cohan sold a total of 100,000 shares of Copart’s common stock over two days, April 11 and April 14, 2025, at an average price of approximately $60.01 per share. The transactions resulted in a total sale value of around $6 million. The sale comes as the company, currently valued at $58.26 billion, trades at relatively high earnings multiples according to InvestingPro data.

On April 11, Cohan sold 5,003 shares, while on April 14, he sold an additional 94,997 shares. The prices for these sales ranged from $59.56 to $60.42 per share, as reported in the filing.

In addition to the sales, Cohan exercised stock options to acquire the same number of shares he sold, 100,000 in total, at an exercise price of $11.80 per share. These transactions were part of his compensation package under the 2007 Equity Incentive Plan, which had been adjusted for stock splits.

These transactions leave Cohan with no remaining shares in Copart, according to the filing. The company, headquartered in Dallas, Texas, operates in the retail-auto dealers and gasoline stations sector.

In other recent news, Copart Inc. reported its financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.40, exceeding the forecasted $0.37, and reported revenue of $1.16 billion, which was higher than the anticipated $1.13 billion. This performance reflects a 14% increase in revenue year-over-year, with net income rising by 19% to over $387 million. Despite these positive financial outcomes, the company’s stock experienced a decline in aftermarket trading. Additionally, Copart’s global unit sales grew by 8%, with significant growth in the BlueCar segment, which caters to banks, rental, and fleet customers. Facility-related costs, however, increased by 20%, which could impact profitability. In other developments, the company is focusing on expanding its insurance business and growing its non-insurance seller market, with investments in sales force and technology.

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