Letko Brosseau & Associates Inc. trimmed its stake in shares of Oracle Co. (NYSE:ORCL) by 2.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,437,898 shares of the enterprise software provider’s stock after selling 33,305 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Oracle were worth $64,921,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Csenge Advisory Group acquired a new stake in shares of Oracle during the third quarter worth $25,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Oracle by 220.9% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 600 shares of the enterprise software provider’s stock worth $27,000 after purchasing an additional 413 shares during the period. Mondrian Capital Management LLC acquired a new stake in shares of Oracle during the fourth quarter worth $45,000. Cordasco Financial Network raised its holdings in shares of Oracle by 225.0% during the fourth quarter. Cordasco Financial Network now owns 1,300 shares of the enterprise software provider’s stock worth $59,000 after purchasing an additional 900 shares during the period. Finally, Edge Wealth Management LLC increased its holdings in shares of Oracle by 101.3% in the 4th quarter. Edge Wealth Management LLC now owns 1,590 shares of the enterprise software provider’s stock worth $72,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 46.80% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $51.51, for a total transaction of $193,162.50. Following the completion of the transaction, the director now owns 27,969 shares in the company, valued at approximately $1,440,683.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 6,302 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $43.24, for a total transaction of $272,498.48. Following the transaction, the executive vice president now owns 77,919 shares of the company’s stock, valued at approximately $3,369,217.56. The disclosure for this sale can be found here. Insiders sold a total of 42,552 shares of company stock valued at $1,945,486 in the last quarter. 32.00% of the stock is currently owned by insiders.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, March 14th. The enterprise software provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.59 billion. Oracle had a net margin of 10.01% and a return on equity of 29.93%. Oracle’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities research analysts expect that Oracle Co. will post 3.07 EPS for the current fiscal year.
A number of analysts recently weighed in on ORCL shares. Zacks Investment Research cut shares of Oracle from a “hold” rating to a “sell” rating in a report on Thursday, November 22nd. Nomura set a $53.00 price objective on shares of Oracle and gave the stock a “buy” rating in a report on Wednesday, December 12th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Oracle in a report on Monday, December 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $53.00 price objective on shares of Oracle in a report on Tuesday, December 18th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Oracle in a report on Tuesday, December 18th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company. Oracle presently has an average rating of “Hold” and a consensus price target of $52.12.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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