Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 12,430 Shares of Stock

Key Points

• CEO Isaias Jose Calisto sold 12,430 Karooooo shares for approximately $801,486 at an average price of $64.48, reducing his position by 0.07% to 17.68 million shares. The sale followed several other insider sales in late July and early August.
• Karooooo reported quarterly EPS of $0.59, beating analyst expectations of $0.51, on revenue of $96.26 million. Analysts expect full-year EPS of $2.41.
• Analyst sentiment remains positive, with five Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $73.50, versus shares opened at $64.81.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 12,430 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $64.48, for a total value of $801,486.40. Following the transaction, the chief executive officer owned 17,682,907 shares in the company, valued at $1,140,193,843.36. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 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 transaction 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 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 value 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 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 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 transaction of $1,643,920.72.

Karooooo Stock Performance

Shares of NASDAQ:KARO opened at $64.81 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. Karooooo Ltd. has a 1 year low of $41.25 and a 1 year high of $67.14. The company has a market cap of $2.00 billion, a P/E ratio of 32.90 and a beta of 0.85. The stock's fifty day moving average price is $55.14 and its 200-day moving average price is $50.75.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. Karooooo had a return on equity of 32.03% and a net margin of 17.74%.The company had revenue of $96.26 million during the quarter. Sell-side analysts expect that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, July 27th. Shareholders of record on Friday, July 17th were given a $1.50 dividend. This is a boost from Karooooo's previous annual dividend of $1.25. The ex-dividend date of this dividend was Friday, July 17th. This represents a yield of 239.0%. Karooooo's payout ratio is presently 76.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP lifted its position in Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company's stock valued at $2,723,000 after purchasing an additional 48,644 shares in the last quarter. Capricorn Fund Managers Ltd increased its position in Karooooo by 16.9% in the first quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company's stock worth $13,873,000 after buying an additional 40,268 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Karooooo by 115.4% in the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company's stock worth $4,234,000 after buying an additional 39,709 shares during the period. Aurora Investment Counsel bought a new position in shares of Karooooo in the fourth quarter worth about $1,651,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Karooooo during the 2nd quarter valued at about $1,378,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and set a $75.00 price target on shares of Karooooo in a report on Thursday, July 16th. Needham & Company LLC upped their price objective on Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Raymond James Financial increased their target price on Karooooo from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Weiss Ratings reissued a "buy (b-)" rating on shares of Karooooo in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded Karooooo from a "buy" rating to a "hold" rating in a research note on Sunday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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