Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $1,653,372.40 in Stock

Key Points

• Karooooo CEO Isaias Jose Calisto sold 25,594 shares at an average price of $64.60, generating $1.65 million. He still owns 17.75 million shares, with the sale reducing his position by 0.14%.
• Calisto has made several additional stock sales since late July, indicating continued insider selling while Karooooo shares trade near their 12-month high.
• Karooooo recently beat quarterly earnings expectations, reporting $0.59 in EPS versus the $0.51 consensus estimate, and raised its annual dividend to $1.50 per share. Analysts maintain a consensus “Buy” rating with a $73.50 target price.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 25,594 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $64.60, for a total value of $1,653,372.40. Following the sale, the chief executive officer owned 17,748,019 shares of the company's stock, valued at $1,146,522,027.40. This represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, August 5th, Isaias Jose Calisto sold 33,833 shares of Karooooo stock. The stock was sold at an average price of $66.14, for a total value of $2,237,714.62.
• 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.
• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The stock was 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.
• 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 Trading Up 1.9%

Shares of KARO stock opened at $65.91 on Thursday. 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 stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 33.46 and a beta of 0.85. Karooooo Ltd. has a 12-month low of $41.25 and a 12-month high of $67.14. The stock's 50-day moving average price is $54.48 and its 200-day moving average price is $50.50.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The company 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%. Equities research analysts predict that Karooooo Ltd. will post 2.41 EPS for the current fiscal year.

Karooooo Increases Dividend

The company also recently announced 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. The ex-dividend date was Friday, July 17th. This represents a dividend yield of 239.0%. This is an increase from Karooooo's previous annual dividend of $1.25. Karooooo's dividend payout ratio is currently 76.14%.

Wall Street Analysts Forecast Growth

KARO has been the topic of several research reports. Roth Capital restated a "buy" rating and issued a $74.00 price target on shares of Karooooo in a research report on Friday, July 17th. UBS Group reissued a "buy" rating and issued a $75.00 price objective on shares of Karooooo in a research note on Thursday, July 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Karooooo in a report on Friday, April 24th. Freedom Capital cut shares of Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Zacks Research raised shares of Karooooo from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $73.50.

Institutional Trading of Karooooo

A number of institutional investors have recently bought and sold shares of the stock. DGS Capital Management LLC grew its position in Karooooo by 5.7% in the 1st quarter. DGS Capital Management LLC now owns 7,359 shares of the company's stock valued at $367,000 after acquiring an additional 398 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Karooooo by 1.4% during the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company's stock worth $1,395,000 after purchasing an additional 400 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Karooooo by 7.5% during the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company's stock worth $351,000 after purchasing an additional 430 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 750 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Karooooo by 22.8% during the third quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company's stock valued at $354,000 after purchasing an additional 1,150 shares during the period.

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.

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