Iberiabank Corp reduced its position in shares of Oracle Co. (NYSE:ORCL) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,303 shares of the enterprise software provider’s stock after selling 2,920 shares during the period. Iberiabank Corp’s holdings in Oracle were worth $3,473,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Keel Point LLC increased its position in Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after buying an additional 14 shares during the period. Flagship Harbor Advisors LLC increased its position in Oracle by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock worth $404,000 after buying an additional 35 shares during the period. Hudock Capital Group LLC increased its position in Oracle by 1.6% in the second quarter. Hudock Capital Group LLC now owns 4,062 shares of the enterprise software provider’s stock worth $203,000 after buying an additional 65 shares during the period. Highland Private Wealth Management increased its position in Oracle by 0.7% in the second quarter. Highland Private Wealth Management now owns 9,660 shares of the enterprise software provider’s stock worth $485,000 after buying an additional 70 shares during the period. Finally, Calamos Wealth Management LLC increased its position in Oracle by 0.4% in the second quarter. Calamos Wealth Management LLC now owns 19,893 shares of the enterprise software provider’s stock worth $997,000 after buying an additional 73 shares during the period. 58.03% of the stock is currently owned by institutional investors and hedge funds.
Oracle Co. (ORCL) opened at $52.90 on Tuesday. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $53.44. The firm has a market capitalization of $219,274.72, a PE ratio of 22.70, a P/E/G ratio of 2.02 and a beta of 1.05. 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 declared that its board has authorized a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.66, for a total value of $186,225.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the transaction, the insider now owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock valued at $98,316,475 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on the company. OTR Global lowered Oracle to a “positive” rating in a research report on Friday. Barclays increased their target price on Oracle from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $51.30 target price on the stock. in a research report on Thursday, February 15th. BMO Capital Markets dropped their target price on Oracle from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, December 15th. Finally, Instinet assumed coverage on Oracle in a research report on Wednesday, January 24th. They issued a “buy” rating and a $51.12 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $55.76.
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.
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.