Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $21,554.40 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 336 shares of Karooooo stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $64.15, for a total transaction of $21,554.40. Following the sale, the chief executive officer directly owned 17,631,049 shares in the company, valued at approximately $1,131,031,793.35. The trade was a 0.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, August 26th, Isaias Jose Calisto sold 23 shares of Karooooo stock. The stock was sold at an average price of $64.00, for a total value of $1,472.00.
• On Friday, August 21st, Isaias Jose Calisto sold 6,202 shares of Karooooo stock. The stock was sold at an average price of $63.50, for a total value of $393,827.00.
• On Wednesday, August 19th, Isaias Jose Calisto sold 1,193 shares of Karooooo stock. The stock was sold at an average price of $63.13, for a total value of $75,314.09.
• On Tuesday, August 18th, Isaias Jose Calisto sold 650 shares of Karooooo stock. The shares were sold at an average price of $63.04, for a total value of $40,976.00.
• On Friday, August 14th, Isaias Jose Calisto sold 978 shares of Karooooo stock. The shares were sold at an average price of $63.30, for a total value of $61,907.40.
• 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 value 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 value of $136,061.90.
• On Monday, August 10th, Isaias Jose Calisto sold 22,549 shares of Karooooo stock. The stock was 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 transaction of $15,248.42.
• On Friday, August 7th, Isaias Jose Calisto sold 12,430 shares of Karooooo stock. The shares were sold at an average price of $64.48, for a total transaction of $801,486.40.

Karooooo Trading Up 0.2%

NASDAQ KARO opened at $67.20 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $2.08 billion, a P/E ratio of 34.11 and a beta of 0.85. The firm’s 50-day moving average is $60.04 and its two-hundred day moving average is $52.31. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $68.80.

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

Analysts Set New Price Targets

A number of research firms have commented on KARO. Freedom Capital cut Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Karooooo in a research note on Thursday, July 16th. Zacks Research downgraded Karooooo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC increased their target price on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Roth Capital restated a “buy” rating and set a $74.00 target price on shares of Karooooo in a report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.50.

Institutional Investors Weigh In On Karooooo

A number of hedge funds have recently added to or reduced their stakes in KARO. Public Employees Retirement System of Ohio purchased a new position in Karooooo in the 2nd quarter valued at approximately $54,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Karooooo during the fourth quarter worth $80,000. Royal Bank of Canada increased its position in shares of Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after acquiring an additional 2,644 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Karooooo in the second quarter valued at $156,000. Finally, New York State Common Retirement Fund boosted its holdings 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 valued at $160,000 after purchasing an additional 2,682 shares during the period.

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.