WEALTHFRONT Corp increased its stake in Oracle Co. (NYSE:ORCL) by 14.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,068 shares of the enterprise software provider’s stock after acquiring an additional 9,537 shares during the quarter. WEALTHFRONT Corp’s holdings in Oracle were worth $3,819,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its position in shares of Oracle by 6,303.9% in the second quarter. Alps Advisors Inc. now owns 731,200 shares of the enterprise software provider’s stock worth $34,571,000 after buying an additional 719,782 shares during the period. Synovus Financial Corp boosted its position in shares of Oracle by 4.1% in the second quarter. Synovus Financial Corp now owns 196,825 shares of the enterprise software provider’s stock worth $8,679,000 after buying an additional 7,667 shares during the period. Personal Capital Advisors Corp boosted its position in shares of Oracle by 6.8% in the second quarter. Personal Capital Advisors Corp now owns 134,305 shares of the enterprise software provider’s stock worth $5,917,000 after buying an additional 8,552 shares during the period. MUFG Securities EMEA plc boosted its position in shares of Oracle by 23.0% in the second quarter. MUFG Securities EMEA plc now owns 253,338 shares of the enterprise software provider’s stock worth $11,162,000 after buying an additional 47,338 shares during the period. Finally, Veritas Asset Management LLP boosted its position in shares of Oracle by 1.8% in the second quarter. Veritas Asset Management LLP now owns 7,711,045 shares of the enterprise software provider’s stock worth $339,749,000 after buying an additional 136,800 shares during the period. Institutional investors and hedge funds own 50.97% of the company’s stock.
Shares of NYSE:ORCL opened at $46.00 on Friday. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48. The stock has a market capitalization of $193.24 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.57 and a beta of 1.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts predict that Oracle Co. will post 3.06 EPS for the current fiscal year.
Oracle declared that its board has approved a share repurchase program on Monday, September 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
ORCL has been the subject of a number of research reports. Zacks Investment Research raised Oracle from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Societe Generale set a $50.00 price objective on Oracle and gave the company a “neutral” rating in a research report on Tuesday, August 14th. Needham & Company LLC initiated coverage on Oracle in a research report on Monday, October 22nd. They set a “hold” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $53.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $55.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.71.
In other news, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the completion of the transaction, the director now owns 27,969 shares in the company, valued at $1,321,814.94. The disclosure for this sale can be found here. Insiders sold 142,946 shares of company stock valued at $7,257,365 in the last ninety days. Insiders own 32.00% of the company’s stock.
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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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