Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells 25,452 Shares

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 25,452 shares of Karooooo stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $64.65, for a total value of $1,645,471.80. Following the transaction, the chief executive officer owned 17,794,030 shares in the company, valued at approximately $1,150,384,039.50. The trade was a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 3rd, Isaias Jose Calisto sold 20,417 shares of Karooooo stock. The shares were sold at an average price of $64.51, for a total value of $1,317,100.67.
• 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.
• 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 Tuesday, July 28th, Isaias Jose Calisto sold 22,036 shares of Karooooo stock. The stock was sold at an average price of $64.19, for a total value 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 Trading Up 0.5%

Shares of KARO stock opened at $64.55 on Tuesday. 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’s 50-day moving average price is $53.78 and its 200-day moving average price is $50.22. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 32.77 and a beta of 0.85.

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 the consensus estimate of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The firm had revenue of $96.26 million during the quarter. As a group, equities analysts predict that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were paid a $1.50 dividend. This is a positive change from Karooooo’s previous annual dividend of $1.25. The ex-dividend date of this dividend was Friday, July 17th. This represents a dividend yield of 239.0%. Karooooo’s dividend payout ratio is currently 76.14%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Freedom Capital lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Needham & Company LLC increased their price objective on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Roth Capital reissued a “buy” rating and set a $74.00 target price on shares of Karooooo in a research note on Friday, July 17th. Zacks Research upgraded Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $73.50.

Institutional Investors Weigh In On Karooooo

Institutional investors have recently modified their holdings of the company. DGS Capital Management LLC boosted its position in Karooooo by 5.7% in the 1st quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock valued at $367,000 after buying an additional 398 shares during the period. Renaissance Technologies LLC grew its stake in shares of Karooooo by 1.4% in the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after acquiring an additional 400 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Karooooo by 7.5% during the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock worth $351,000 after acquiring an additional 430 shares during the period. Bank of America Corp DE raised its stake in shares of Karooooo by 17.2% in the second quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock valued at $250,000 after acquiring an additional 750 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Karooooo by 22.8% in the third quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company’s stock valued at $354,000 after acquiring an additional 1,150 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.