Oracle (ORCL) Shares Gap Down Following Insider Selling

Oracle Corporation (NYSE:ORCL) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $48.12, but opened at $48.30. Oracle shares last traded at $48.12, with a volume of 12355336 shares traded.

Specifically, Director Jeffrey Berg sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total transaction of $2,161,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 305,776 shares of company stock valued at $14,814,687. 29.00% of the stock is currently owned by company insiders.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday. Moffett Nathanson assumed coverage on Oracle in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 target price for the company. Vetr upgraded Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price for the company in a research report on Monday, September 18th. BidaskClub lowered Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, J P Morgan Chase & Co set a $55.00 target price on Oracle and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.26.

The firm has a market capitalization of $199,580.00, a P/E ratio of 18.43, a P/E/G ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.

Oracle (NYSE:ORCL) last issued 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 the consensus estimate of $9.57 billion. Oracle had a return on equity of 15.96% and a net margin of 23.21%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. equities analysts predict that Oracle Corporation will post 2.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s payout ratio is presently 32.62%.

Oracle declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after buying an additional 5,270,359 shares during the last quarter. BlackRock Inc. boosted its holdings in Oracle by 2.5% in the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after purchasing an additional 4,678,977 shares during the last quarter. Harris Associates L P boosted its holdings in Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. Northern Trust Corp boosted its holdings in Oracle by 4.6% in the second quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after purchasing an additional 1,835,835 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Oracle by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock valued at $2,091,710,000 after purchasing an additional 482,220 shares during the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.

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About Oracle

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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