Swedbank AB Has $2.27 Million Position in Karooooo Ltd. (NASDAQ:KARO)

Swedbank AB lessened its holdings in Karooooo Ltd. (NASDAQ:KARO) by 58.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,300 shares of the company’s stock after selling 69,700 shares during the period. Swedbank AB owned about 0.16% of Karooooo worth $2,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Renaissance Technologies LLC boosted its position in Karooooo by 23.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Karooooo during the third quarter worth approximately $216,000. Gladius Capital Management LP increased its stake in Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after buying an additional 8,041 shares during the period. Walleye Capital LLC purchased a new stake in Karooooo in the 3rd quarter worth approximately $323,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Karooooo during the 4th quarter valued at $6,146,000.

Karooooo Trading Down 1.8 %

Shares of NASDAQ KARO opened at $46.16 on Friday. The business has a 50 day simple moving average of $46.07 and a 200 day simple moving average of $41.02. Karooooo Ltd. has a 52 week low of $23.35 and a 52 week high of $50.54. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 29.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. On average, research analysts predict that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target (up from $46.00) on shares of Karooooo in a research note on Thursday, January 16th.

Karooooo Profile

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.