29,212 Copart, Inc. $CPRT Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,025,993 shares of the business services provider’s stock after acquiring an additional 29,212 shares during the quarter. ProShare Advisors LLC’s holdings in Copart were worth $27,989,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart during the 2nd quarter worth about $25,000. Byrne Asset Management LLC acquired a new stake in Copart during the 3rd quarter worth approximately $25,000. Versant Capital Management Inc increased its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Cherry Tree Wealth Management LLC raised its holdings in Copart by 14,062.5% in the second quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock valued at $32,000 after buying an additional 1,125 shares during the period. Finally, Compass Financial Management LLC purchased a new position in Copart in the second quarter valued at approximately $33,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CPRT. Freedom Broker reduced their price target on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. Robert W. Baird cut their target price on shares of Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, September 11th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Finally, Barrington Research upgraded shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, September 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Copart Stock Performance

CPRT stock opened at $30.13 on Monday. Copart, Inc. has a 1 year low of $25.72 and a 1 year high of $43.38. The firm has a market cap of $27.91 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. The stock has a 50-day simple moving average of $29.57 and a 200-day simple moving average of $32.44.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, equities research analysts predict that Copart, Inc. will post 1.63 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Director Diane Morefield sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by company insiders.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.