Insider Selling: Karooooo (NASDAQ:KARO) CEO Sells 978 Shares of Stock

Key Points

• Karooooo CEO Isaias Jose Calisto sold 978 shares at an average price of $63.30, totaling $61,907.40. He still owns 17.65 million shares valued at approximately $1.12 billion.
• The sale follows a series of recent insider transactions in which Calisto sold additional shares, including more than 33,000 shares on August 5 and over 22,000 shares on August 10.
• Karooooo shares traded near $62.97, while the company recently exceeded quarterly earnings expectations. 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 978 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $63.30, for a total value of $61,907.40. Following the completion of the transaction, the chief executive officer owned 17,648,745 shares in the company, valued at $1,117,165,558.50. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, August 13th, Isaias Jose Calisto sold 8,235 shares of Karooooo stock. The stock was sold at an average price of $63.58, for a total value of $523,581.30.
• On Wednesday, August 12th, Isaias Jose Calisto sold 2,158 shares of Karooooo stock. The shares were sold at an average price of $63.05, for a total value of $136,061.90.
• On Monday, August 10th, Isaias Jose Calisto sold 22,549 shares of Karooooo stock. The shares were sold at an average price of $63.25, for a total value of $1,426,224.25.
• On Tuesday, August 11th, Isaias Jose Calisto sold 242 shares of Karooooo stock. The shares were sold at an average price of $63.01, for a total value of $15,248.42.
• 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 value of $801,486.40.
• On Thursday, August 6th, Isaias Jose Calisto sold 18,849 shares of Karooooo stock. The stock was sold at an average price of $63.29, for a total value of $1,192,953.21.
• 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 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 transaction 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 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.

Karooooo Stock Performance

Karooooo stock traded up $0.76 during trading hours on Tuesday, reaching $62.97. 12,591 shares of the stock were exchanged, compared to its average volume of 82,767. Karooooo Ltd. has a 52-week low of $41.25 and a 52-week high of $67.14. The stock has a market cap of $1.94 billion, a P/E ratio of 32.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02. The firm's 50 day moving average is $56.91 and its 200 day moving average is $51.39.

Karooooo (NASDAQ:KARO - Get Free Report) last issued its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The business had revenue of $96.26 million for the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. Analysts predict that Karooooo Ltd. will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company's stock worth $2,723,000 after acquiring an additional 48,644 shares during the last quarter. Capricorn Fund Managers Ltd grew its holdings in shares of Karooooo by 16.9% during the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company's stock worth $13,873,000 after purchasing an additional 40,268 shares during the period. Two Sigma Investments LP grew its holdings in shares of Karooooo by 115.4% during the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company's stock worth $4,234,000 after purchasing an additional 39,709 shares during the period. Aurora Investment Counsel acquired a new stake in Karooooo during the 4th quarter worth approximately $1,651,000. Finally, Russell Investments Group Ltd. acquired a new stake in Karooooo during the 2nd quarter worth approximately $1,378,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KARO shares. Zacks Research downgraded shares of Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Freedom Capital cut shares of Karooooo from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. Raymond James Financial boosted their price target on Karooooo from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 17th. UBS Group reissued a "buy" rating and set a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Karooooo in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $73.50.

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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