Forum Financial Management LP Sells 512 Shares of Copart, Inc. $CPRT

Forum Financial Management LP decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,319 shares of the business services provider’s stock after selling 512 shares during the period. Forum Financial Management LP’s holdings in Copart were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPRT. Western Wealth Management LLC increased its stake in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock worth $282,000 after acquiring an additional 192 shares during the last quarter. FSM Wealth Advisors LLC boosted its position in shares of Copart by 4.9% during the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 218 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 218 shares in the last quarter. Transcend Capital Advisors LLC increased its position in Copart by 1.6% in the first quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider’s stock worth $789,000 after purchasing an additional 220 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Copart by 1.8% during the first quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 220 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPRT. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Friday. HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Robert W. Baird dropped their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. 9.68% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $44.66 on Friday. The firm has a market capitalization of $43.22 billion, a PE ratio of 27.91 and a beta of 1.03. The business has a 50 day simple moving average of $46.39 and a two-hundred day simple moving average of $50.50. Copart, Inc. has a 1 year low of $43.32 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $0.33 EPS. Copart’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.