Oracle Corporation (NYSE:ORCL) insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now directly owns 1,522,983 shares in the company, valued at $76,590,815.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Oracle Corporation (ORCL) traded up $0.35 during midday trading on Friday, reaching $50.58. 14,011,470 shares of the company’s stock were exchanged, compared to its average volume of 18,230,000. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The company has a market cap of $211,090.00, a P/E ratio of 21.71, a P/E/G ratio of 1.92 and a beta of 1.05. Oracle Corporation has a 52-week low of $39.10 and a 52-week high of $53.14.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. research analysts forecast that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle announced that its board has initiated a share buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its holdings in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the period. Burt Wealth Advisors lifted its holdings in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of Oracle by 81,200.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after acquiring an additional 2,436 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Oracle during the 2nd quarter worth approximately $129,000. Finally, ETF Managers Group LLC bought a new stake in shares of Oracle during the 2nd quarter worth approximately $133,000. 57.89% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Zacks Investment Research cut shares of Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Vetr raised shares of Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price objective on the stock in a research report on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Oracle in a research report on Sunday, October 22nd. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.27.
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Oracle 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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