Karooooo Ltd. (NASDAQ:KARO) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP lifted its holdings in Karooooo Ltd. (NASDAQ:KARO - Free Report) by 32.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,021 shares of the company's stock after purchasing an additional 9,552 shares during the period. Marshall Wace LLP owned about 0.13% of Karooooo worth $1,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. raised its holdings in shares of Karooooo by 0.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company's stock valued at $10,699,000 after acquiring an additional 1,387 shares during the period. Capricorn Fund Managers Ltd bought a new stake in shares of Karooooo in the 4th quarter valued at approximately $6,146,000. Schwartz Investment Counsel Inc. raised its position in Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock valued at $2,735,000 after acquiring an additional 8,881 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Karooooo in the fourth quarter valued at approximately $635,000. Finally, Polen Capital Management LLC grew its position in Karooooo by 24.8% in the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock worth $599,000 after acquiring an additional 2,639 shares in the last quarter.

Karooooo Stock Performance

KARO opened at $42.46 on Monday. The stock has a 50-day moving average of $42.01 and a 200-day moving average of $43.48. 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 Ltd. has a 52-week low of $25.80 and a 52-week high of $50.54. The company has a market cap of $1.31 billion, a PE ratio of 27.22 and a beta of 1.03.

Analysts Set New Price Targets

Separately, Raymond James reaffirmed an "outperform" rating and issued a $51.00 price objective (up previously 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.

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