Copart, Inc. (NASDAQ:CPRT) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 21.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,060,062 shares of the business services provider’s stock after buying an additional 189,758 shares during the quarter. ProShare Advisors LLC owned approximately 0.11% of Copart worth $61,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CPRT. PDS Planning Inc increased its position in shares of Copart by 5.0% in the 1st quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock worth $263,000 after purchasing an additional 216 shares during the last quarter. Rathbones Group PLC increased its holdings in Copart by 2.9% in the fourth quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock valued at $383,000 after buying an additional 221 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Copart by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,232,000 after buying an additional 226 shares in the last quarter. Quent Capital LLC lifted its holdings in Copart by 4.4% during the 1st quarter. Quent Capital LLC now owns 5,330 shares of the business services provider’s stock worth $309,000 after buying an additional 226 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its holdings in Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.00.

Copart Trading Down 1.5 %

CPRT traded down $0.79 on Wednesday, hitting $53.21. 3,685,763 shares of the company’s stock were exchanged, compared to its average volume of 4,457,794. The stock has a fifty day moving average of $54.14 and a two-hundred day moving average of $53.10. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The firm has a market cap of $51.20 billion, a PE ratio of 37.69 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, analysts predict that Copart, Inc. will post 1.43 EPS for the current 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.