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

ProShare Advisors LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 owned approximately 0.11% of Copart worth $27,989,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Copart during the 3rd quarter worth about $5,601,000. China Universal Asset Management Co. Ltd. lifted its holdings in Copart by 11.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 31,197 shares of the business services provider’s stock valued at $847,000 after purchasing an additional 3,321 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Copart by 31.5% in the 3rd quarter. D.A. Davidson & CO. now owns 27,237 shares of the business services provider’s stock valued at $743,000 after purchasing an additional 6,525 shares in the last quarter. Redmond Asset Management LLC boosted its stake in shares of Copart by 5.3% during the 3rd quarter. Redmond Asset Management LLC now owns 92,143 shares of the business services provider’s stock worth $2,514,000 after purchasing an additional 4,618 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Copart by 26.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,784 shares of the business services provider’s stock worth $103,000 after purchasing an additional 788 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $30.13 on Monday. The stock’s 50-day moving average price is $29.57 and its two-hundred day moving average price is $32.44. Copart, Inc. has a 12-month low of $25.72 and a 12-month high of $43.38. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.48 and a beta of 1.01.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, research analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the subject of a number of recent research reports. Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Freedom Broker decreased their target price 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. 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 research report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Finally, Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.80.

Insider Activity

In related news, Director Diane Morefield sold 20,000 shares of the business’s 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 directly owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% 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 the SEC website. Corporate insiders own 9.30% of the company’s stock.

Copart 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.