Cubist Systematic Strategies LLC Purchases 69,066 Shares of Oracle Corporation (ORCL)
Cubist Systematic Strategies LLC raised its position in Oracle Corporation (NYSE:ORCL) by 228.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,262 shares of the enterprise software provider’s stock after purchasing an additional 69,066 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Oracle were worth $4,977,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. increased its position in shares of Oracle by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after acquiring an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC increased its position in shares of Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after acquiring an additional 39 shares during the last quarter. Lockheed Martin Investment Management Co. increased its position in shares of Oracle by 125.6% in the second quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock valued at $8,331,000 after acquiring an additional 92,500 shares during the last quarter. Pinnacle Financial Partners Inc. increased its position in shares of Oracle by 8.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after acquiring an additional 9,328 shares during the last quarter. Finally, LGT Capital Partners LTD. increased its position in shares of Oracle by 14.0% in the second quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock valued at $31,260,000 after acquiring an additional 76,653 shares during the last quarter. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
ORCL has been the topic of a number of recent analyst reports. Vetr downgraded Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price target on the stock. in a research report on Tuesday, September 12th. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price target on shares of Oracle in a research report on Monday, September 11th. Canaccord Genuity initiated coverage on Oracle in a research report on Friday, October 6th. They set a “buy” rating and a $57.00 price target on the stock. BTIG Research restated a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Tuesday, September 19th. Finally, J P Morgan Chase & Co set a $55.00 price objective on Oracle and gave the stock a “buy” rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.05.
In related news, EVP Dorian Daley sold 25,776 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.05, for a total value of $1,238,536.80. Following the completion of the sale, the executive vice president now directly owns 30,977 shares in the company, valued at $1,488,444.85. The transaction 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 stock in a transaction on Friday, September 15th. The shares were sold at an average price of $50.35, for a total value of $188,812.50. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at $912,593.75. The disclosure for this sale can be found here. Insiders have sold 305,776 shares of company stock valued at $14,821,999 over the last quarter. Company insiders own 29.00% of the company’s stock.
Shares of Oracle Corporation (NYSE ORCL) traded up $0.87 during trading hours on Tuesday, hitting $50.47. 15,852,800 shares of the stock traded hands, compared to its average volume of 13,277,979. The firm has a market capitalization of $207,004.89, a P/E ratio of 19.45, a PEG ratio of 1.89 and a beta of 1.05. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle Corporation has a 52 week low of $38.30 and a 52 week high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. Oracle had a net margin of 25.34% and a return on equity of 20.55%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. sell-side analysts expect that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
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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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