Copart, Inc. (NASDAQ:CPRT) Stake Lessened by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in Copart, Inc. (NASDAQ:CPRT) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 957,782 shares of the business services provider’s stock after selling 102,280 shares during the period. ProShare Advisors LLC owned approximately 0.10% of Copart worth $51,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Symmetry Investments LP lifted its stake in Copart by 20.4% during the second quarter. Symmetry Investments LP now owns 88,404 shares of the business services provider’s stock valued at $4,788,000 after purchasing an additional 15,000 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Copart by 7.5% during the second quarter. Summit Trail Advisors LLC now owns 8,955 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 627 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Copart by 267.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 144,522 shares of the business services provider’s stock valued at $7,827,000 after acquiring an additional 105,181 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Copart by 2.1% in the 2nd quarter. Pacer Advisors Inc. now owns 117,840 shares of the business services provider’s stock valued at $6,382,000 after acquiring an additional 2,395 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Copart by 1.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 665,811 shares of the business services provider’s stock valued at $36,060,000 after acquiring an additional 6,954 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Stock Down 0.7 %

Shares of CPRT opened at $51.44 on Monday. The company’s fifty day moving average is $51.47 and its 200-day moving average is $53.70. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The firm has a market cap of $49.50 billion, a price-to-earnings ratio of 36.23 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $0.34 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.