Nipun Capital L.P. Purchases Shares of 5,700 Karooooo Ltd. (NASDAQ:KARO)

Nipun Capital L.P. acquired a new position in shares of Karooooo Ltd. (NASDAQ:KARO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,700 shares of the company's stock, valued at approximately $242,000. Karooooo makes up 0.1% of Nipun Capital L.P.'s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC increased its stake in Karooooo by 6.8% in the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company's stock valued at $429,000 after purchasing an additional 602 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Karooooo by 17.5% in the 4th quarter. Lazard Asset Management LLC now owns 4,961 shares of the company's stock valued at $223,000 after buying an additional 740 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Karooooo during the 4th quarter valued at about $210,000. Northern Trust Corp purchased a new position in shares of Karooooo during the 4th quarter worth about $340,000. Finally, Marshall Wace LLP boosted its position in shares of Karooooo by 32.4% in the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock worth $1,762,000 after acquiring an additional 9,552 shares during the last quarter.

Karooooo Stock Performance

Shares of KARO stock traded up $7.84 on Tuesday, hitting $63.10. 74,114 shares of the stock traded hands, compared to its average volume of 33,450. The company has a market capitalization of $1.95 billion, a PE ratio of 40.45 and a beta of 1.03. Karooooo Ltd. has a 1-year low of $25.80 and a 1-year high of $62.87. The company's fifty day moving average is $44.81 and its 200 day moving average is $45.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. The business had revenue of $65.12 million for the quarter, compared to analysts' expectations of $1.18 billion. During the same period in the prior year, the firm earned $6.81 EPS. On average, equities research analysts predict that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James raised their target price on shares of Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th.

Karooooo Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.