ProShare Advisors LLC Cuts Position in Copart, Inc. $CPRT

ProShare Advisors LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,227,168 shares of the business services provider’s stock after selling 269,784 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of Copart worth $55,186,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC purchased a new stake in Copart during the third quarter valued at approximately $27,000. Creekmur Asset Management LLC boosted its stake in Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Copart in the second quarter worth $31,000. Finally, LRI Investments LLC increased its position in shares of 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 purchasing an additional 363 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 0.1%

Copart stock opened at $40.30 on Tuesday. The stock has a 50-day moving average price of $39.60 and a 200 day moving average price of $43.05. The company has a market capitalization of $39.01 billion, a price-to-earnings ratio of 24.57 and a beta of 1.08. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. Copart’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.37 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays reissued an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird dropped their price target on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

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.