Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $2,055,123.71 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 31,897 shares of Karooooo stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.43, for a total value of $2,055,123.71. Following the completion of the sale, the chief executive officer owned 17,838,112 shares in the company, valued at approximately $1,149,309,556.16. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 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.
• On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The stock was sold at an average price of $63.44, for a total value of $1,643,920.72.

Karooooo Stock Up 0.3%

Shares of KARO traded up $0.20 during mid-day trading on Friday, reaching $64.23. The company’s stock had a trading volume of 28,536 shares, compared to its average volume of 80,167. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 32.61 and a beta of 0.89. Karooooo Ltd. has a 1 year low of $41.25 and a 1 year high of $66.23. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $53.10 and a 200 day moving average of $49.97.

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

Karooooo Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, July 27th. Investors of record on Friday, July 17th were given a $1.50 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a yield of 239.0%. This is an increase from Karooooo’s previous annual dividend of $1.25. Karooooo’s payout ratio is presently 76.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KARO. UBS Group reaffirmed 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, June 21st. Zacks Research raised shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Finally, Needham & Company LLC raised their price objective on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $73.50.

Institutional Investors Weigh In On Karooooo

Institutional investors and hedge funds have recently modified their holdings of the company. Capricorn Fund Managers Ltd raised its stake in Karooooo by 39.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after buying an additional 67,322 shares during the period. Tudor Investment Corp ET AL lifted its holdings in Karooooo by 238.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 17,917 shares of the company’s stock worth $1,023,000 after purchasing an additional 12,621 shares during the last quarter. Aurora Investment Counsel acquired a new position in Karooooo in the 4th quarter valued at $1,651,000. Bullseye Asset Management LLC increased its position in Karooooo by 101.7% during the 4th quarter. Bullseye Asset Management LLC now owns 32,129 shares of the company’s stock worth $1,461,000 after buying an additional 16,200 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its holdings in shares of Karooooo by 22.9% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after buying an additional 14,600 shares in the last quarter.

Karooooo Company Profile

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.