Insider Selling: Thomas Kurian Sells 350,000 Shares of Oracle Corp. Stock (ORCL)
Oracle Corp. (NASDAQ:ORCL) EVP Thomas Kurian sold 350,000 shares of the stock on the open market in a transaction dated Monday, October 28th. The stock was sold at an average price of $33.33, for a total value of $11,665,500.00. Following the sale, the executive vice president now directly owns 32,327 shares in the company, valued at approximately $1,077,459. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ORCL. Analysts at TheStreet reiterated a “buy” rating on shares of Oracle Corp. in a research note to investors on Sunday. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Oracle Corp. from $33.00 to $35.00 in a research note to investors on Tuesday, October 15th. They now have a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $36.55.
Shares of Oracle Corp. (NASDAQ:ORCL) traded up 1.72% during mid-day trading on Tuesday, hitting $33.71. The stock had a trading volume of 15,955,025 shares. Oracle Corp. has a 1-year low of $29.52 and a 1-year high of $36.43. The stock’s 50-day moving average is $32.50 and its 200-day moving average is $33.02. The company has a market cap of $153.6 billion and a P/E ratio of 14.24.
Oracle Corp. (NASDAQ:ORCL) last announced its earnings results on Wednesday, September 18th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Oracle Corp. will post $2.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 29th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, October 4th.
Oracle Corporation is a provider of enterprise software and computer hardware products and services. The Company’s software, hardware systems, and services businesses develops, manufactures, markets, hosts and supports database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products.
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