Karooooo (NASDAQ:KARO) CEO Sells $2,055,123.71 in Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 31,897 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.43, for a total value of $2,055,123.71. Following the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 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 Price Performance

Karooooo stock traded up $0.20 during trading hours on Friday, reaching $64.23. 28,536 shares of the stock were exchanged, compared to its average volume of 80,167. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. Karooooo Ltd. has a twelve month low of $41.25 and a twelve month high of $66.23. The company has a market cap of $1.98 billion, a P/E ratio of 32.61 and a beta of 0.89. The stock has a 50 day moving average of $53.10 and a two-hundred day moving average of $49.97.

Karooooo (NASDAQ:KARO) last issued 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. The company had revenue of $96.26 million during the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. Equities analysts expect that Karooooo Ltd. will post 2.41 EPS for the current fiscal year.

Karooooo Increases Dividend

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

Institutional Trading of Karooooo

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Karooooo by 9.5% in the first quarter. Bank of America Corp DE now owns 8,798 shares of the company’s stock valued at $438,000 after buying an additional 764 shares during the period. Lazard Asset Management LLC acquired a new stake in Karooooo during the 1st quarter worth approximately $1,015,000. Renaissance Technologies LLC grew its holdings in Karooooo by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after acquiring an additional 400 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in 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 acquiring an additional 4,999 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Karooooo in the 1st quarter valued at approximately $296,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Zacks Research raised shares of Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th. Finally, Raymond James Financial boosted their target price on shares of Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Karooooo has a consensus rating of “Buy” and a consensus price target 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.