Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $1,643,920.72 in Stock

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

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 stock was sold at an average price of $63.47, for a total value of $1,182,446.10.
• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The shares were sold at an average price of $64.43, for a total transaction of $2,055,123.71.
• 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 transaction of $1,414,490.84.

Karooooo Stock Performance

KARO stock opened at $64.24 on Friday. The company has a 50-day simple moving average of $53.44 and a 200 day simple moving average of $50.07. The company has a market capitalization of $1.98 billion, a P/E ratio of 32.61 and a beta of 0.89. 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 fifty-two week low of $41.25 and a fifty-two week high of $66.23.

Karooooo (NASDAQ:KARO) last released its earnings results on Thursday, July 16th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The firm had revenue of $96.26 million for the quarter. Sell-side analysts predict that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, July 27th. Stockholders 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. The ex-dividend date was Friday, July 17th. This represents a dividend yield of 239.0%. Karooooo’s payout ratio is 76.14%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Capital restated a “buy” rating and issued a $74.00 price objective on shares of Karooooo in a report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Raymond James Financial upped their price target on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, Needham & Company LLC raised their price objective on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.50.

Hedge Funds Weigh In On Karooooo

Hedge funds and other institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC raised its holdings in Karooooo by 5.7% during the 1st quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock worth $367,000 after buying an additional 398 shares during the period. 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 valued at $1,395,000 after buying an additional 400 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Karooooo by 7.5% in the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock worth $351,000 after buying an additional 430 shares during the period. Bank of America Corp DE boosted its holdings in shares of Karooooo by 17.2% in the second quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock worth $250,000 after buying an additional 750 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Karooooo by 22.8% in the third quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company’s stock worth $354,000 after acquiring an additional 1,150 shares in the last quarter.

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.