JPMorgan Chase & Co. increased its stake in Karooooo Ltd. (NASDAQ:KARO - Free Report) by 1,727.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,934 shares of the company's stock after purchasing an additional 8,445 shares during the quarter. JPMorgan Chase & Co.'s holdings in Karooooo were worth $403,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of KARO. Polen Capital Management LLC lifted its position in shares of Karooooo by 24.8% in the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock worth $599,000 after purchasing an additional 2,639 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Karooooo by 0.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company's stock valued at $10,699,000 after acquiring an additional 1,387 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Karooooo during the fourth quarter worth $635,000. New York State Common Retirement Fund acquired a new position in Karooooo in the fourth quarter worth $26,000. Finally, Schwartz Investment Counsel Inc. raised its position in shares of Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock worth $2,735,000 after acquiring an additional 8,881 shares during the last quarter.
Wall Street Analysts Forecast Growth
Separately, Raymond James reissued an "outperform" rating and issued a $51.00 target price (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.
Get Our Latest Stock Analysis on KARO
Karooooo Stock Down 1.3 %
Shares of NASDAQ:KARO traded down $0.60 during mid-day trading on Wednesday, hitting $43.63. 15,031 shares of the company traded hands, compared to its average volume of 31,509. Karooooo Ltd. has a 12-month low of $25.80 and a 12-month high of $50.54. The stock has a 50-day moving average price of $41.58 and a two-hundred day moving average price of $43.59. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.35 billion, a P/E ratio of 27.97 and a beta of 1.03.
About Karooooo
(
Free Report)
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.
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