Insider Selling: Oracle Corporation (ORCL) CEO Sells 5,000,000 Shares of Stock
Oracle Corporation (NYSE:ORCL) CEO Safra Catz sold 5,000,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $50.05, for a total transaction of $250,250,000.00. Following the sale, the chief executive officer now owns 1,037,860 shares of the company’s stock, valued at $51,944,893. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Oracle Corporation (NYSE:ORCL) traded up $0.68 during midday trading on Wednesday, hitting $50.27. 23,182,585 shares of the stock traded hands, compared to its average volume of 17,860,000. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle Corporation has a twelve month low of $38.88 and a twelve month high of $53.14. The stock has a market capitalization of $209,800.00, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. analysts forecast that Oracle Corporation will post 2.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s payout ratio is 32.62%.
A number of institutional investors have recently modified their holdings of the stock. Cullinan Associates Inc. raised its holdings in Oracle by 8.6% during the fourth quarter. Cullinan Associates Inc. now owns 216,915 shares of the enterprise software provider’s stock worth $10,256,000 after purchasing an additional 17,195 shares in the last quarter. Berkshire Asset Management LLC PA raised its holdings in Oracle by 4.1% during the fourth quarter. Berkshire Asset Management LLC PA now owns 30,901 shares of the enterprise software provider’s stock worth $1,461,000 after purchasing an additional 1,207 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Oracle by 4.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 10,864,577 shares of the enterprise software provider’s stock worth $513,678,000 after purchasing an additional 463,760 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Oracle by 5.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 59,385 shares of the enterprise software provider’s stock worth $2,808,000 after purchasing an additional 3,244 shares in the last quarter. Finally, Coastline Trust Co raised its holdings in Oracle by 1.5% during the fourth quarter. Coastline Trust Co now owns 83,374 shares of the enterprise software provider’s stock worth $3,942,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors own 57.89% of the company’s stock.
Several research analysts have weighed in on ORCL shares. UBS Group set a $55.00 target price on shares of Oracle and gave the stock a “neutral” rating in a research note on Friday, December 15th. Vetr raised shares of Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 target price for the company in a research note on Thursday, November 2nd. BidaskClub raised shares of Oracle from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Oppenheimer reaffirmed a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Finally, Goldman Sachs Group set a $56.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $55.28.
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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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