Oracle Corporation (NYSE:ORCL) Insider Thomas Kurian Sells 750,000 Shares
Oracle Corporation (NYSE:ORCL) insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the sale, the insider now directly owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Oracle Corporation (ORCL) traded up 1.09% during midday trading on Wednesday, hitting $51.00. The stock had a trading volume of 13,312,125 shares. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $51.85. The firm has a market cap of $210.97 billion, a price-to-earnings ratio of 23.08 and a beta of 1.07. The company’s 50-day moving average price is $47.85 and its 200-day moving average price is $44.13.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The company had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that Oracle Corporation will post $2.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, July 17th. Oracle Corporation’s dividend payout ratio (DPR) is currently 34.55%.
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A number of hedge funds have recently made changes to their positions in ORCL. AMF Pensionsforsakring AB increased its stake in shares of Oracle Corporation by 4.1% in the fourth quarter. AMF Pensionsforsakring AB now owns 2,476,343 shares of the enterprise software provider’s stock valued at $95,215,000 after buying an additional 98,100 shares during the period. Guardian Capital LP increased its stake in shares of Oracle Corporation by 81.5% in the fourth quarter. Guardian Capital LP now owns 17,850 shares of the enterprise software provider’s stock valued at $686,000 after buying an additional 8,013 shares during the period. Guardian Capital Advisors LP increased its stake in shares of Oracle Corporation by 1.1% in the fourth quarter. Guardian Capital Advisors LP now owns 146,900 shares of the enterprise software provider’s stock valued at $5,676,000 after buying an additional 1,569 shares during the period. Weitz Investment Management Inc. increased its stake in shares of Oracle Corporation by 20.8% in the fourth quarter. Weitz Investment Management Inc. now owns 1,266,528 shares of the enterprise software provider’s stock valued at $48,698,000 after buying an additional 218,240 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Oracle Corporation by 6.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,034,354 shares of the enterprise software provider’s stock valued at $39,771,000 after buying an additional 61,633 shares during the period. 58.54% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on ORCL shares. Zacks Investment Research upgraded Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, May 16th. Benchmark Co. lifted their price target on Oracle Corporation from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, June 22nd. KeyCorp upgraded Oracle Corporation from a “sector weight” rating to an “overweight” rating and set a $61.00 price target for the company in a research report on Wednesday, July 5th. Canaccord Genuity reiterated a “buy” rating and set a $49.00 price target on shares of Oracle Corporation in a research report on Friday, May 26th. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 price target on Oracle Corporation and gave the company a “buy” rating in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.52.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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