Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $801,486.40 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 12,430 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $64.48, for a total transaction of $801,486.40. Following the transaction, the chief executive officer directly owned 17,682,907 shares in the company, valued at $1,140,193,843.36. The trade was a 0.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Isaias Jose Calisto also recently made the following trade(s):

• On Monday, August 10th, Isaias Jose Calisto sold 22,549 shares of Karooooo stock. The shares were sold at an average price of $63.25, for a total value of $1,426,224.25.
• On Tuesday, August 11th, Isaias Jose Calisto sold 242 shares of Karooooo stock. The shares were sold at an average price of $63.01, for a total value of $15,248.42.
• On Thursday, August 6th, Isaias Jose Calisto sold 18,849 shares of Karooooo stock. The stock was sold at an average price of $63.29, for a total value of $1,192,953.21.
• On Wednesday, August 5th, Isaias Jose Calisto sold 33,833 shares of Karooooo stock. The stock was sold at an average price of $66.14, for a total value of $2,237,714.62.
• On Tuesday, August 4th, Isaias Jose Calisto sold 25,594 shares of Karooooo stock. The shares were sold at an average price of $64.60, for a total value of $1,653,372.40.
• On Monday, August 3rd, Isaias Jose Calisto sold 20,417 shares of Karooooo stock. The shares were sold at an average price of $64.51, for a total value of $1,317,100.67.
• On Friday, July 31st, Isaias Jose Calisto sold 25,452 shares of Karooooo stock. The shares were sold at an average price of $64.65, for a total value of $1,645,471.80.
• On Thursday, July 30th, Isaias Jose Calisto sold 18,630 shares of Karooooo stock. The stock was sold at an average price of $63.47, for a total value of $1,182,446.10.
• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The stock was sold at an average price of $64.43, for a total transaction of $2,055,123.71.
• On Tuesday, July 28th, Isaias Jose Calisto sold 22,036 shares of Karooooo stock. The shares were sold at an average price of $64.19, for a total transaction of $1,414,490.84.

Karooooo Stock Up 0.3%

KARO stock opened at $62.79 on Thursday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 31.87 and a beta of 0.85. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year high of $67.14. The firm has a fifty day moving average price of $55.97 and a two-hundred day moving average price of $51.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The company had revenue of $96.26 million for the quarter. Research analysts predict that Karooooo Ltd. will post 2.41 EPS for the current year.

Wall Street Analyst Weigh In

KARO has been the subject of a number of research reports. Freedom Capital downgraded Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. UBS Group reiterated a “buy” rating and set a $75.00 price target on shares of Karooooo in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Wall Street Zen downgraded Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Raymond James Financial increased their target price on Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

Institutional Trading of Karooooo

Several institutional investors have recently modified their holdings of the company. Fideuram Asset Management Ireland dac acquired a new stake in Karooooo in the 4th quarter valued at about $80,000. Royal Bank of Canada lifted its stake in Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after purchasing an additional 2,644 shares during the last quarter. Quantbot Technologies LP bought a new stake in Karooooo during the second quarter worth approximately $156,000. New York State Common Retirement Fund boosted its holdings in Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after buying an additional 2,682 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in Karooooo in the second quarter worth approximately $214,000.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.