Granite Investment Partners LLC lowered its position in shares of Oracle Co. (NYSE:ORCL) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,200 shares of the enterprise software provider’s stock after selling 1,500 shares during the period. Granite Investment Partners LLC’s holdings in Oracle were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its position in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares in the last quarter. Tarbox Family Office Inc. grew its position in Oracle by 71.1% during the fourth quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after buying an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Oracle by 81,200.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after buying an additional 2,436 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Oracle during the fourth quarter worth approximately $126,000. Finally, ETF Managers Group LLC acquired a new stake in Oracle during the second quarter worth approximately $133,000. Institutional investors own 58.03% of the company’s stock.
A number of equities research analysts recently issued reports on ORCL shares. UBS Group set a $55.00 price target on Oracle and gave the stock a “neutral” rating in a research report on Friday, December 15th. Oppenheimer reissued a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Royal Bank of Canada raised their target price on Oracle to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Morgan Stanley raised Oracle from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Finally, Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have given a buy rating to the stock. Oracle has an average rating of “Buy” and an average target price of $55.76.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. equities research analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current year.
Oracle declared that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $877,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,956,250 shares of company stock valued at $98,316,475. 29.00% of the stock is owned by corporate insiders.
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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