Isaias Jose Calisto Sells 18,630 Shares of Karooooo (NASDAQ:KARO) Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 18,630 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $63.47, for a total transaction of $1,182,446.10. Following the completion of the sale, the chief executive officer directly owned 17,819,482 shares of the company’s stock, valued at $1,131,002,522.54. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction 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

Karooooo stock opened at $64.24 on Friday. The firm has a fifty day simple moving average of $53.44 and a two-hundred day simple moving average of $50.07. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Karooooo Ltd. has a twelve month low of $41.25 and a twelve month high of $66.23. The company has a market capitalization of $1.98 billion, a PE ratio of 32.61 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The firm 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%. Research analysts expect that Karooooo Ltd. will post 2.41 EPS for the current year.

Karooooo Increases Dividend

The business also recently declared an annual dividend, which was paid on Monday, July 27th. Investors of record on Friday, July 17th were given a dividend of $1.50 per share. 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 is 76.14%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac purchased a new stake in shares of Karooooo in the 4th quarter worth about $80,000. Royal Bank of Canada boosted its stake in shares of Karooooo by 852.9% during 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of Karooooo during the second quarter valued at about $156,000. New York State Common Retirement Fund increased its position in shares of Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock valued at $160,000 after buying an additional 2,682 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in Karooooo in the second quarter worth about $214,000.

Wall Street Analyst Weigh In

KARO has been the topic of a number of analyst reports. Freedom Capital cut Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Zacks Research raised Karooooo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Karooooo from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Karooooo in a research note on Thursday, July 16th. Finally, Raymond James Financial upped their price target on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock 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.