Millennium Management LLC Sells 786 Shares of Karooooo Ltd. (NASDAQ:KARO)

Millennium Management LLC decreased its stake in Karooooo Ltd. (NASDAQ:KARO) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,828 shares of the company’s stock after selling 786 shares during the period. Millennium Management LLC’s holdings in Karooooo were worth $399,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Karooooo in the fourth quarter worth about $635,000. JPMorgan Chase & Co. increased its stake in shares of Karooooo by 1,727.0% in the fourth quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company’s stock worth $403,000 after purchasing an additional 8,445 shares in the last quarter. Northern Trust Corp purchased a new position in shares of Karooooo in the fourth quarter worth about $340,000. BNP Paribas Financial Markets purchased a new position in shares of Karooooo in the fourth quarter worth about $210,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Karooooo in the fourth quarter worth about $26,000.

Analysts Set New Price Targets

Separately, Raymond James lifted their target price on shares of Karooooo from $51.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th.

Karooooo Price Performance

KARO opened at $57.50 on Tuesday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 36.86 and a beta of 1.15. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $46.46 and a 200-day moving average price of $45.72. Karooooo Ltd. has a twelve month low of $25.80 and a twelve month high of $63.36.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $65.12 million during the quarter, compared to analysts’ expectations of $1.18 billion. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. During the same quarter in the previous year, the company earned $6.81 earnings per share. Equities analysts expect that Karooooo Ltd. will post 1.57 EPS for the current 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.