Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells $2,237,714.62 in Stock

Key Points

• Karooooo CEO Isaias Jose Calisto sold 33,833 shares for approximately $2.24 million at an average price of $66.14, reducing his ownership by 0.19% to 17.7 million shares.
• The CEO has made multiple recent sales, disposing of more than 200,000 additional shares since July 27 at prices generally between $63.44 and $64.65.
• Karooooo reported quarterly EPS of $0.59, exceeding estimates of $0.51, while analysts maintain a consensus “Buy” rating with a $73.50 price target; the company also increased its annual dividend to $1.50.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 33,833 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $66.14, for a total value of $2,237,714.62. Following the completion of the sale, the chief executive officer directly owned 17,714,186 shares in the company, valued at approximately $1,171,616,262.04. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, August 4th, Isaias Jose Calisto sold 25,594 shares of Karooooo stock. The shares were 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 stock was 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 stock was 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 shares were 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 stock was 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 stock was sold at an average price of $63.44, for a total value of $1,643,920.72.

Karooooo Price Performance

KARO stock opened at $65.91 on Thursday. The stock has a 50-day moving average price of $54.48 and a two-hundred day moving average price of $50.50. Karooooo Ltd. has a 1 year low of $41.25 and a 1 year high of $67.14. The stock has a market cap of $2.04 billion, a PE ratio of 33.46 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 issued 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 for the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. Equities analysts forecast 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. Shareholders of record on Friday, July 17th were paid a $1.50 dividend. This represents a 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 dividend payout ratio (DPR) is presently 76.14%.

Institutional Investors Weigh In On Karooooo

Several large investors have recently made changes to their positions in KARO. Fideuram Asset Management Ireland dac acquired a new position in Karooooo during the fourth quarter worth $80,000. Royal Bank of Canada raised its holdings in shares of Karooooo by 852.9% in the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company's stock valued at $135,000 after purchasing an additional 2,644 shares during the period. Quantbot Technologies LP acquired a new stake in Karooooo in the 2nd quarter valued at about $156,000. New York State Common Retirement Fund increased its position in Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company's stock worth $160,000 after buying an additional 2,682 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Karooooo in the second quarter valued at approximately $214,000.

Analyst Upgrades and Downgrades

KARO has been the subject of several research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. Freedom Capital cut shares of Karooooo from a "strong-buy" rating to a "hold" rating in a report on Friday, July 17th. Roth Capital reaffirmed a "buy" rating and issued a $74.00 target price on shares of Karooooo in a research report on Friday, July 17th. UBS Group reaffirmed a "buy" rating and issued a $75.00 target price on shares of Karooooo in a research report on Thursday, July 16th. Finally, Needham & Company LLC lifted their price target on shares of Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a research note 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company 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.

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