Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $1,426,224.25 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 22,549 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.25, for a total transaction of $1,426,224.25. Following the completion of the transaction, the chief executive officer directly owned 17,660,358 shares of the company’s stock, valued at approximately $1,117,017,643.50. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, August 13th, Isaias Jose Calisto sold 8,235 shares of Karooooo stock. The shares were sold at an average price of $63.58, for a total transaction of $523,581.30.
• On Wednesday, August 12th, Isaias Jose Calisto sold 2,158 shares of Karooooo stock. The stock was sold at an average price of $63.05, for a total transaction of $136,061.90.
• On Tuesday, August 11th, Isaias Jose Calisto sold 242 shares of Karooooo stock. The stock was sold at an average price of $63.01, for a total value of $15,248.42.
• On Friday, August 7th, Isaias Jose Calisto sold 12,430 shares of Karooooo stock. The stock was sold at an average price of $64.48, for a total value of $801,486.40.
• On Thursday, August 6th, Isaias Jose Calisto sold 18,849 shares of Karooooo stock. The shares were 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 stock was 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 stock was 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 shares were sold at an average price of $63.47, for a total value of $1,182,446.10.

Karooooo Stock Performance

Shares of KARO opened at $62.28 on Friday. Karooooo Ltd. has a 12-month low of $41.25 and a 12-month high of $67.14. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.92 billion, a PE ratio of 31.61 and a beta of 0.85. The stock has a 50-day moving average price of $56.60 and a 200-day moving average price of $51.31.

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

Analyst Ratings Changes

Several research firms have recently weighed in on KARO. UBS Group restated a “buy” rating and set a $75.00 price objective on shares of Karooooo in a research report on Thursday, July 16th. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Zacks Research cut Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Freedom Capital downgraded Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Raymond James Financial lifted their price target on Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Fideuram Asset Management Ireland dac purchased a new stake in shares of Karooooo in the 4th quarter valued at $80,000. Royal Bank of Canada grew its holdings in shares of Karooooo by 852.9% during the 4th 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 purchased a new position in Karooooo in the 2nd quarter worth $156,000. New York State Common Retirement Fund lifted its stake in Karooooo by 465.6% in the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after purchasing an additional 2,682 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Karooooo in the second quarter worth $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.