Copart, Inc. $CPRT Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 18.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,227,168 shares of the business services provider’s stock after selling 269,784 shares during the period. ProShare Advisors LLC’s holdings in Copart were worth $55,186,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CPRT. Cloud Capital Management LLC acquired a new position in Copart during the third quarter worth $25,000. Tripletail Wealth Management LLC acquired a new position in shares of Copart during the 3rd quarter worth about $27,000. LRI Investments LLC raised its position in shares of 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 purchasing an additional 363 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Copart in the 2nd quarter valued at about $31,000. Finally, Creekmur Asset Management LLC boosted its holdings in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 0.1%

Shares of CPRT opened at $40.30 on Tuesday. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85. The firm has a market capitalization of $39.01 billion, a P/E ratio of 24.57 and a beta of 1.08. The firm has a 50-day moving average price of $39.60 and a 200 day moving average price of $43.05.

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

Copart Company 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.