ProShare Advisors LLC Has $66.41 Million Stake in Copart, Inc. $CPRT

ProShare Advisors LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,696,251 shares of the business services provider’s stock after buying an additional 469,083 shares during the period. ProShare Advisors LLC’s holdings in Copart were worth $66,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Cloud Capital Management LLC acquired a new position in Copart during the third quarter worth $25,000. Lodestone Wealth Management LLC acquired a new position in Copart during the fourth quarter worth $25,000. LRI Investments LLC increased its holdings in Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Copart during the fourth quarter worth $33,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Copart Price Performance

NASDAQ:CPRT opened at $33.12 on Wednesday. Copart, Inc. has a one year low of $32.20 and a one year high of $63.30. The company has a market cap of $31.90 billion, a P/E ratio of 20.70 and a beta of 1.02. The firm’s fifty day moving average price is $33.45 and its two-hundred day moving average price is $37.36.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CPRT shares. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Barclays reissued an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.40.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.