Barclays PLC Cuts Stock Holdings in Karooooo Ltd. (NASDAQ:KARO)

Barclays PLC reduced its position in shares of Karooooo Ltd. (NASDAQ:KARO) by 56.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,615 shares of the company’s stock after selling 3,447 shares during the period. Barclays PLC’s holdings in Karooooo were worth $103,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KARO. Renaissance Technologies LLC increased its stake 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 buying an additional 3,356 shares in the last quarter. Gladius Capital Management LP grew its position in shares of Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after purchasing an additional 8,041 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Karooooo in the third quarter valued at approximately $323,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Karooooo in the third quarter valued at approximately $216,000.

Analysts Set New Price Targets

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

Karooooo Price Performance

KARO stock opened at $45.38 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The business has a 50 day simple moving average of $45.40 and a 200-day simple moving average of $40.40. The firm has a market capitalization of $1.40 billion, a PE ratio of 29.09 and a beta of 1.03. Karooooo Ltd. has a 1 year low of $23.35 and a 1 year high of $50.54.

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

About Karooooo

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.