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% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,319 shares of the business services provider’s stock after selling 512 shares during the quarter. Forum Financial Management LP’s holdings in Copart were worth $408,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in Copart in the first quarter worth about $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart in the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new position in shares of Copart during the second quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the first quarter valued at approximately $36,000. Finally, GFG Capital LLC purchased a new position in Copart during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $44.66 on Friday. The business’s 50-day moving average is $46.39 and its 200 day moving average is $50.50. Copart, Inc. has a 1 year low of $43.32 and a 1 year high of $64.38. The firm has a market capitalization of $43.22 billion, a P/E ratio of 27.91 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens dropped their price objective 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Friday. Robert W. Baird reduced their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Activity at Copart

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

About Copart

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.