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

ProShare Advisors LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 38.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,696,251 shares of the business services provider’s stock after buying an additional 469,083 shares during the quarter. ProShare Advisors LLC owned 0.18% of Copart worth $66,408,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Copart during the 3rd quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new stake in Copart during the 4th quarter worth approximately $25,000. LRI Investments LLC raised its holdings in Copart by 125.2% during the 3rd 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 period. Cornerstone Planning Group LLC raised its holdings in Copart by 54.0% during the 3rd 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 period. Finally, FNY Investment Advisers LLC acquired a new stake in Copart during the 3rd quarter worth approximately $36,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Down 1.0%

Shares of CPRT stock opened at $33.12 on Wednesday. The company’s fifty day simple moving average is $33.45 and its 200-day simple moving average is $37.36. The firm has a market cap of $31.90 billion, a PE ratio of 20.70 and a beta of 1.02. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $63.30.

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

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Copart 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.