Oracle Co. (NYSE:ORCL) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 40,291,071 shares, an increase of 18.8% from the January 12th total of 33,913,735 shares. Based on an average daily trading volume, of 16,197,680 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.3% of the shares of the stock are sold short.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $877,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the firm’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 sale, the insider now owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,956,250 shares of company stock worth $98,313,363. Corporate insiders own 29.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC boosted its stake 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 valued at $100,000 after purchasing an additional 1,800 shares in the last quarter. Burt Wealth Advisors boosted its stake 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 valued at $107,000 after purchasing an additional 88 shares in the last quarter. Tarbox Family Office Inc. boosted its stake in shares of Oracle by 71.1% during the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock valued at $110,000 after purchasing an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake 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 valued at $118,000 after purchasing an additional 2,436 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Oracle during the 4th quarter valued at about $126,000. 57.77% of the stock is currently owned by institutional investors and hedge funds.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. equities analysts expect that Oracle will post 2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle announced that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on ORCL. Vetr upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $51.77 price objective on the stock in a research report on Monday, February 5th. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Instinet began coverage on shares of Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price objective on the stock. Nomura began coverage on shares of Oracle in a research report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Royal Bank of Canada set a $51.00 price objective on shares of Oracle and gave the company a “neutral” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.39.
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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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