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

Forsta AP Fonden increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.5% in the 2nd quarter, Holdings Channel.com reports. The firm 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 recently bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new stake in Copart in the second quarter valued at about $219,000. Nordea Investment Management AB boosted its holdings in Copart by 3.5% in the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after purchasing an additional 25,564 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Copart by 151.5% in the 1st quarter. Diversify Advisory Services LLC now owns 14,846 shares of the business services provider’s stock valued at $898,000 after buying an additional 8,943 shares during the period. Finally, Peak Financial Advisors LLC acquired a new stake in shares of Copart in the 2nd quarter valued at approximately $2,467,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction dated 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 in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred 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.

Copart Stock Up 0.8%

NASDAQ CPRT opened at $41.62 on Friday. Copart, Inc. has a fifty-two week low of $39.58 and a fifty-two week high of $64.38. The business has a fifty day moving average of $44.63 and a 200-day moving average of $48.78. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 26.01 and a beta of 1.06.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 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 analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CPRT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Barclays set a $32.00 price target on shares of Copart in a report on Tuesday. Robert W. Baird decreased their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.