Karooooo (NASDAQ:KARO) CEO Sells $1,414,490.84 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 22,036 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $64.19, for a total value of $1,414,490.84. Following the transaction, the chief executive officer owned 17,870,009 shares of the company’s stock, valued at approximately $1,147,075,877.71. The trade was a 0.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 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 value of $2,055,123.71.
• On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The shares were sold at an average price of $63.44, for a total value of $1,643,920.72.

Karooooo Stock Performance

NASDAQ KARO opened at $64.24 on Friday. The stock has a market capitalization of $1.98 billion, a PE ratio of 32.61 and a beta of 0.89. The business has a 50 day simple moving average of $53.44 and a two-hundred day simple moving average of $50.07. 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 Ltd. has a 1-year low of $41.25 and a 1-year high of $66.23.

Karooooo (NASDAQ:KARO) last released its quarterly earnings data 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. The business had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. On average, research analysts predict that Karooooo Ltd. will post 2.41 EPS for the current fiscal year.

Karooooo Increases Dividend

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

Analysts Set New Price Targets

KARO has been the subject of several research reports. Wall Street Zen upgraded shares of Karooooo from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group restated a “buy” rating and issued a $75.00 target price on shares of Karooooo in a report on Thursday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Needham & Company LLC increased their price target on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Karooooo has an average rating of “Buy” and a consensus price target of $73.50.

Institutional Trading of Karooooo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac purchased a new position in Karooooo during the fourth quarter worth $80,000. Royal Bank of Canada increased its position 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 acquiring an additional 2,644 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Karooooo in the second quarter valued at $156,000. New York State Common Retirement Fund raised its stake in shares of 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 acquiring an additional 2,682 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Karooooo in the 2nd quarter worth about $214,000.

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.