Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $75,314.09 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 1,193 shares of Karooooo stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $63.13, for a total value of $75,314.09. Following the transaction, the chief executive officer directly owned 17,646,902 shares in the company, valued at approximately $1,114,048,923.26. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 18th, Isaias Jose Calisto sold 650 shares of Karooooo stock. The shares were 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 stock was sold at an average price of $63.30, for a total transaction of $61,907.40.
• On Thursday, August 13th, Isaias Jose Calisto sold 8,235 shares of Karooooo stock. The stock was sold at an average price of $63.58, for a total transaction 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 shares were 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 stock was 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 stock was 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 shares were sold at an average price of $66.14, for a total transaction 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 transaction of $1,653,372.40.

Karooooo Trading Up 1.7%

Shares of Karooooo stock opened at $63.96 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 32.47 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02. The company has a fifty day moving average of $58.24 and a 200 day moving average of $51.74. Karooooo Ltd. has a fifty-two week low of $41.25 and a fifty-two week high of $67.14.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million during the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. On average, sell-side analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KARO has been the subject of several research analyst reports. Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a research report on Monday, August 17th. Needham & Company LLC boosted their price target on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. UBS Group restated a “buy” rating and issued a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Freedom Capital lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and set a $74.00 price objective on shares of Karooooo in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Karooooo currently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. DGS Capital Management LLC increased its holdings in shares of Karooooo by 5.7% in the first quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock worth $367,000 after purchasing an additional 398 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 buying an additional 400 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Karooooo by 7.5% during the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock valued at $351,000 after buying an additional 430 shares during the last quarter. Bank of America Corp DE boosted its stake in Karooooo by 17.2% during the second quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock valued at $250,000 after buying an additional 750 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Karooooo during the 2nd quarter valued at approximately $54,000.

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.