Forsta AP Fonden Grows Stock Position in Copart, Inc. $CPRT

Forsta AP Fonden raised its stake in Copart, Inc. (NASDAQ:CPRT) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,200 shares of the business services provider’s stock after purchasing an additional 13,300 shares during the period. Forsta AP Fonden’s holdings in Copart were worth $9,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atticus Wealth Management LLC acquired a new stake in Copart in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC grew its holdings in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Copart in the 2nd quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the 1st quarter valued at $36,000. Finally, Bank of Jackson Hole Trust lifted its position in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $41.62 on Friday. The company has a market capitalization of $40.28 billion, a P/E ratio of 26.01 and a beta of 1.06. Copart, Inc. has a fifty-two week low of $39.58 and a fifty-two week high of $64.38. The stock has a 50-day simple moving average of $44.63 and a 200-day simple moving average of $48.78.

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

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the firm’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 transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stephens dropped their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Barclays set a $32.00 price target on shares of Copart in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

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.