Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells 18,630 Shares of Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 18,630 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $63.47, for a total transaction of $1,182,446.10. Following the transaction, the chief executive officer owned 17,819,482 shares of the company’s stock, valued at approximately $1,131,002,522.54. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• 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 transaction of $1,643,920.72.

Karooooo Stock Performance

KARO stock traded up $0.20 during trading on Friday, reaching $64.23. 28,536 shares of the stock were exchanged, compared to its average volume of 80,167. The stock has a 50 day simple moving average of $53.10 and a 200-day simple moving average of $49.97. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. Karooooo Ltd. has a twelve month low of $41.25 and a twelve month high of $66.23. The company has a market capitalization of $1.98 billion, a P/E ratio of 32.61 and a beta of 0.89.

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, beating 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%. As a group, sell-side analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, July 27th. Shareholders of record on Friday, July 17th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, July 17th. This is a positive change from Karooooo’s previous annual dividend of $1.25. This represents a yield of 239.0%. Karooooo’s dividend payout ratio (DPR) is presently 76.14%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KARO. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. UBS Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Karooooo in a research report on Thursday, July 16th. Needham & Company LLC upped their target price on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Roth Capital reaffirmed a “buy” rating and set a $74.00 price objective on shares of Karooooo in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $73.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capricorn Fund Managers Ltd increased its position in Karooooo by 16.9% during the first quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock worth $13,873,000 after buying an additional 40,268 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in Karooooo by 22.9% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after purchasing an additional 14,600 shares in the last quarter. Two Sigma Investments LP increased its holdings in Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after buying an additional 39,709 shares during the period. Marshall Wace LLP increased its stake in shares of Karooooo by 699.1% in the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after buying an additional 48,644 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Karooooo by 43.1% in the 4th quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after purchasing an additional 14,078 shares during the period.

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.