Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $393,827.00 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 6,202 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $63.50, for a total value of $393,827.00. Following the transaction, the chief executive officer directly owned 17,640,700 shares in the company, valued at $1,120,184,450. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 stock was 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 transaction 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 transaction 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.
• On Thursday, August 6th, Isaias Jose Calisto sold 18,849 shares of Karooooo stock. The shares were sold at an average price of $63.29, for a total transaction of $1,192,953.21.
• On Wednesday, August 5th, Isaias Jose Calisto sold 33,833 shares of Karooooo stock. The stock was sold at an average price of $66.14, for a total transaction of $2,237,714.62.

Karooooo Stock Up 0.5%

Shares of NASDAQ:KARO traded up $0.32 during trading on Monday, reaching $64.28. 54,297 shares of the company traded hands, compared to its average volume of 82,537. The firm has a fifty day simple moving average of $58.24 and a 200 day simple moving average of $51.75. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year high of $67.14. The firm has a market cap of $1.99 billion, a P/E ratio of 32.63 and a beta of 0.85.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share 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 net margin of 17.74% and a return on equity of 32.03%. Analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Karooooo during the second quarter worth about $54,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Karooooo in the fourth quarter worth $80,000. Royal Bank of Canada boosted its stake in shares of Karooooo by 852.9% during the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after buying an additional 2,644 shares during the last quarter. Quantbot Technologies LP acquired a new position in Karooooo during the second quarter valued at approximately $156,000. Finally, New York State Common Retirement Fund grew 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 buying an additional 2,682 shares in the last quarter.

Analysts Set New Price Targets

KARO has been the subject of several analyst reports. Freedom Capital lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. UBS Group reissued 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 lifted their target price 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 issued a $74.00 price target on shares of Karooooo in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a research note on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

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.