Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 25,913 Shares

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 25,913 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $63.44, for a total transaction of $1,643,920.72. Following the completion of the sale, the chief executive officer owned 17,892,045 shares in the company, valued at $1,135,071,334.80. The trade was a 0.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.

Karooooo Trading Up 0.8%

Karooooo stock opened at $64.46 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.99 billion, a PE ratio of 32.72 and a beta of 0.89. The stock’s 50 day simple moving average is $52.75 and its two-hundred day simple moving average is $49.84. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $66.19.

Karooooo (NASDAQ:KARO) last released 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. Karooooo had a return on equity of 32.03% and a net margin of 17.74%.The company had revenue of $96.26 million during the quarter. 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 given a dividend of $1.50 per share. 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 currently 76.14%.

Institutional Investors Weigh In On Karooooo

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its stake in Karooooo by 9.5% during the 1st quarter. Bank of America Corp DE now owns 8,798 shares of the company’s stock worth $438,000 after buying an additional 764 shares during the period. Lazard Asset Management LLC purchased a new stake in Karooooo during the 1st quarter worth about $1,015,000. Renaissance Technologies LLC lifted its stake in Karooooo by 1.4% during the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after purchasing an additional 400 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Karooooo by 35.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 19,259 shares of the company’s stock worth $960,000 after buying an additional 4,999 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Karooooo in the first quarter valued at $296,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KARO shares. UBS Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Freedom Capital downgraded shares of Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th. Zacks Research upgraded Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Needham & Company LLC increased their price target on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $73.50.

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.