Insider Selling: Oracle Corporation (ORCL) CEO Sells 5,000,000 Shares of Stock
Oracle Corporation (NYSE:ORCL) CEO Safra Catz sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $50.05, for a total transaction of $250,250,000.00. Following the sale, the chief executive officer now directly owns 1,037,860 shares in the company, valued at approximately $51,944,893. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Oracle Corporation (NYSE ORCL) traded up $0.68 on Wednesday, reaching $50.27. 23,182,585 shares of the company’s stock traded hands, compared to its average volume of 17,860,000. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The firm has a market cap of $209,800.00, a PE ratio of 21.58, a P/E/G ratio of 1.89 and a beta of 1.05. Oracle Corporation has a 12 month low of $38.88 and a 12 month high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. sell-side analysts anticipate that Oracle Corporation will post 2.68 EPS for the current fiscal year.
Oracle declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of analysts have weighed in on ORCL shares. BTIG Research reissued a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Tuesday, September 19th. BidaskClub cut shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Drexel Hamilton reissued a “buy” rating and set a $62.00 price objective on shares of Oracle in a report on Monday, October 2nd. Piper Jaffray Companies started coverage on shares of Oracle in a report on Wednesday, October 4th. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, KeyCorp reissued a “buy” rating on shares of Oracle in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.28.
Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after purchasing an additional 5,270,359 shares in the last quarter. BlackRock Inc. boosted its position in shares of Oracle by 2.5% during the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after purchasing an additional 4,678,977 shares in the last quarter. Harris Associates L P boosted its position in shares of Oracle by 17.9% during the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after purchasing an additional 7,427,501 shares in the last quarter. Northern Trust Corp boosted its position in shares of Oracle by 4.6% during the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after purchasing an additional 1,835,835 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of Oracle by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock worth $2,091,710,000 after purchasing an additional 482,220 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.
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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