Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $523,581.30 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 8,235 shares of Karooooo stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $63.58, for a total value of $523,581.30. Following the completion of the sale, the chief executive officer owned 17,649,723 shares in the company, valued at approximately $1,122,169,388.34. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 12th, Isaias Jose Calisto sold 2,158 shares of Karooooo stock. The shares were sold at an average price of $63.05, for a total value of $136,061.90.
• On Monday, August 10th, Isaias Jose Calisto sold 22,549 shares of Karooooo stock. The shares were sold at an average price of $63.25, for a total value 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 value of $15,248.42.
• On Friday, August 7th, Isaias Jose Calisto sold 12,430 shares of Karooooo stock. The stock was sold at an average price of $64.48, for a total value of $801,486.40.
• On Thursday, August 6th, Isaias Jose Calisto sold 18,849 shares of Karooooo stock. The stock was sold at an average price of $63.29, for a total value of $1,192,953.21.
• On Wednesday, August 5th, Isaias Jose Calisto sold 33,833 shares of Karooooo stock. The shares were sold at an average price of $66.14, for a total value of $2,237,714.62.
• On Tuesday, August 4th, Isaias Jose Calisto sold 25,594 shares of Karooooo stock. The shares were sold at an average price of $64.60, for a total value of $1,653,372.40.
• 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 transaction of $1,317,100.67.
• On Friday, July 31st, Isaias Jose Calisto sold 25,452 shares of Karooooo stock. The stock was sold at an average price of $64.65, for a total transaction of $1,645,471.80.
• 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 transaction of $1,182,446.10.

Karooooo Price Performance

KARO stock opened at $62.28 on Monday. 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 50-day moving average of $56.60 and a two-hundred day moving average of $51.31. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $67.14. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 31.61 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 (EPS) for the quarter, beating 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 business had revenue of $96.26 million during the quarter. As a group, analysts forecast that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Institutional Trading of Karooooo

Hedge funds and other institutional investors have recently modified their holdings of the business. Fideuram Asset Management Ireland dac acquired a new position in Karooooo in the fourth quarter valued at about $80,000. Royal Bank of Canada increased its position in shares of Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after acquiring an additional 2,644 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Karooooo in the 2nd quarter valued at approximately $156,000. New York State Common Retirement Fund raised its stake in shares of Karooooo by 465.6% in the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock valued at $160,000 after acquiring an additional 2,682 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Karooooo in the 2nd quarter worth approximately $214,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. UBS Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Karooooo in a research note on Thursday, July 16th. Raymond James Financial boosted their target price on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Roth Capital reissued a “buy” rating and issued a $74.00 price target on shares of Karooooo in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Karooooo from a “hold” rating to a “buy” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Karooooo presently has a consensus rating of “Moderate Buy” and an average 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.