Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 22,549 Shares of Stock

Key Points

• CEO Isaias Jose Calisto sold 22,549 Karooooo shares at an average price of $63.25, generating approximately $1.43 million. He retained 17.66 million shares, worth about $1.12 billion, after the sale.
• Calisto has made a series of stock sales since late July, including more than $10 million in additional transactions, while Karooooo shares traded down 0.6% to $62.25.
• Karooooo recently exceeded earnings expectations, reporting $0.59 in quarterly EPS versus a $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 22,549 shares of Karooooo stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $63.25, for a total value of $1,426,224.25. Following the transaction, the chief executive officer directly owned 17,660,358 shares in the company, valued at approximately $1,117,017,643.50. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 11th, Isaias Jose Calisto sold 242 shares of Karooooo stock. The stock was sold at an average price of $63.01, for a total transaction 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 transaction 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 transaction 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 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.
• 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 value of $1,414,490.84.

Karooooo Stock Down 0.6%

Shares of KARO traded down $0.35 during mid-day trading on Wednesday, hitting $62.25. 7,659 shares of the company traded hands, compared to its average volume of 82,893. The company has a market capitalization of $1.92 billion, a PE ratio of 31.71 and a beta of 0.85. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $55.66 and a 200 day moving average of $51.01. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year high of $67.14.

Karooooo (NASDAQ:KARO - Get Free Report) last released its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, topping 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 company had revenue of $96.26 million for the quarter. Equities research analysts anticipate that Karooooo Ltd. will post 2.41 EPS for the current year.

Institutional Investors Weigh In On Karooooo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capricorn Fund Managers Ltd grew its holdings in shares of Karooooo by 16.9% during 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 during the last quarter. Schwartz Investment Counsel Inc. raised its stake in Karooooo by 22.9% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company's stock valued at $3,566,000 after acquiring an additional 14,600 shares during the last quarter. Two Sigma Investments LP lifted its position in 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 acquiring an additional 39,709 shares during the period. Marshall Wace LLP lifted its position in Karooooo by 699.1% during the 2nd 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 period. Finally, First Trust Advisors LP grew its stake in shares of Karooooo by 43.1% in the 4th quarter. First Trust Advisors LP now owns 46,767 shares of the company's stock valued at $2,128,000 after purchasing an additional 14,078 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Roth Capital reiterated a "buy" rating and set a $74.00 price target on shares of Karooooo in a research note on Friday, July 17th. Freedom Capital downgraded 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 target price on Karooooo from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company 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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