Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 31,897 Shares

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 31,897 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.43, for a total value of $2,055,123.71. Following the completion of the transaction, the chief executive officer directly owned 17,838,112 shares of the company’s stock, valued at approximately $1,149,309,556.16. The trade was a 0.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were sold at an average price of $63.47, for a total value of $1,182,446.10.
• 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 value 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 value of $1,643,920.72.

Karooooo Stock Performance

NASDAQ:KARO opened at $64.24 on Friday. The stock’s 50-day moving average is $53.44 and its 200-day moving average is $50.07. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year high of $66.23. 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 stock has a market cap of $1.98 billion, a P/E ratio of 32.61 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last issued 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. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The business had revenue of $96.26 million during the quarter. Equities research analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Needham & Company LLC upped their price target on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. UBS Group reissued a “buy” rating and issued a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Finally, Raymond James Financial increased their target price on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a research report 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 given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $73.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Karooooo by 56.6% in the 2nd quarter. Geode Capital Management LLC now owns 29,892 shares of the company’s stock valued at $1,464,000 after purchasing an additional 10,799 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Karooooo by 216.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,089 shares of the company’s stock valued at $396,000 after purchasing an additional 5,529 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Karooooo during the second quarter worth approximately $1,378,000. New York State Common Retirement Fund grew its stake in Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after purchasing an additional 2,682 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Karooooo in the second quarter worth approximately $156,000.

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.