Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells 18,849 Shares

Key Points

• CEO Isaias Jose Calisto sold 18,849 Karooooo shares at an average price of $63.29, generating approximately $1.19 million. He retained 17.7 million shares, and the sale reduced his ownership by 0.11%.
• Calisto has made multiple additional sales since late July, indicating a broader pattern of insider selling over the period.
• Karooooo recently beat quarterly earnings expectations, reporting $0.59 in EPS versus the $0.51 consensus estimate. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $73.50.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 18,849 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $63.29, for a total transaction of $1,192,953.21. Following the completion of the sale, the chief executive officer owned 17,695,337 shares of the company's stock, valued at $1,119,937,878.73. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 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 value of $2,237,714.62.
• On Tuesday, August 4th, Isaias Jose Calisto sold 25,594 shares of Karooooo stock. The stock was sold at an average price of $64.60, for a total value of $1,653,372.40.
• 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 value of $1,317,100.67.
• On Friday, July 31st, Isaias Jose Calisto sold 25,452 shares of Karooooo stock. The shares were sold at an average price of $64.65, for a total value of $1,645,471.80.
• 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 stock was sold at an average price of $64.43, for a total value 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 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 Stock Performance

Shares of Karooooo stock opened at $64.81 on Monday. Karooooo Ltd. has a 1 year low of $41.25 and a 1 year high of $67.14. The company's fifty day simple moving average is $55.14 and its 200-day simple moving average is $50.75. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 32.90 and a beta of 0.85. 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 (NASDAQ:KARO - Get Free Report) 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 during the quarter. As a group, sell-side analysts expect that Karooooo Ltd. will post 2.41 EPS for the current year.

Karooooo Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were issued a dividend of $1.50 per share. This represents a dividend yield of 239.0%. The ex-dividend date was Friday, July 17th. This is a positive change from Karooooo's previous annual dividend of $1.25. Karooooo's payout ratio is presently 76.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new stake in shares of Karooooo in the 4th quarter valued at approximately $80,000. Royal Bank of Canada lifted its position in shares of Karooooo by 852.9% during the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company's stock worth $135,000 after buying an additional 2,644 shares during the period. Quantbot Technologies LP acquired a new stake in Karooooo in the 2nd quarter valued at $156,000. New York State Common Retirement Fund boosted its stake in Karooooo by 465.6% in the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company's stock valued at $160,000 after buying an additional 2,682 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in Karooooo in the 2nd quarter valued at $214,000.

Wall Street Analysts Forecast Growth

KARO has been the subject of several research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. Zacks Research lowered Karooooo from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Needham & Company LLC upped their price target on Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Freedom Capital downgraded Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Raymond James Financial raised their price objective on Karooooo from $60.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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