Stonebridge Capital Management Inc. trimmed its position in Oracle Co. (NYSE:ORCL) by 8.8% in the 1st quarter, HoldingsChannel reports. The fund owned 168,686 shares of the enterprise software provider’s stock after selling 16,300 shares during the quarter. Oracle makes up approximately 3.3% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Stonebridge Capital Management Inc.’s holdings in Oracle were worth $9,060,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Investors Research Corp acquired a new stake in shares of Oracle during the first quarter worth $30,000. Riverview Trust Co acquired a new stake in shares of Oracle during the fourth quarter worth $35,000. Covenant Multifamily Offices LLC acquired a new stake in shares of Oracle during the first quarter worth $35,000. Truehand Inc acquired a new stake in shares of Oracle during the fourth quarter worth $36,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in shares of Oracle during the fourth quarter worth $36,000. Institutional investors own 53.15% of the company’s stock.
Several research firms have recently commented on ORCL. Zacks Investment Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, May 15th. DZ Bank reiterated a “sell” rating on shares of Oracle in a research note on Tuesday, March 19th. Exane BNP Paribas began coverage on shares of Oracle in a research note on Friday, March 29th. They set a “neutral” rating and a $50.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Oracle from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. Finally, BNP Paribas assumed coverage on shares of Oracle in a report on Friday, March 29th. They set a “neutral” rating and a $50.00 target price for the company. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.11.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $54.52, for a total transaction of $204,450.00. Following the transaction, the director now directly owns 27,969 shares in the company, valued at $1,524,869.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Screven sold 600,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $54.96, for a total transaction of $32,976,000.00. Following the transaction, the insider now owns 2,812,345 shares in the company, valued at $154,566,481.20. The disclosure for this sale can be found here. Insiders have sold 2,473,750 shares of company stock valued at $133,883,350 in the last three months. Corporate insiders own 32.00% of the company’s stock.
ORCL stock opened at $53.62 on Thursday. The stock has a market cap of $184.35 billion, a PE ratio of 19.01, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.65 and a quick ratio of 2.65. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $55.53.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, March 14th. The enterprise software provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. As a group, equities analysts anticipate that Oracle Co. will post 3.09 EPS for the current fiscal year.
Oracle Company Profile
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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