Concentric Capital Strategies LP Trims Stake in Oracle Corporation $ORCL

Key Points

• Concentric Capital Strategies LP decreased its stake in Oracle Corporation by 82.0% during the first quarter, now holding only 3,663 shares valued at $512,000.
• Several hedge funds recently increased their positions in Oracle, with Iron Horse Wealth Management growing its stake by 284.9%, now owning 204 shares valued at $29,000.
• Oracle's latest quarterly earnings showed a year-over-year revenue increase of 11.3%, reporting $15.90 billion compared to consensus estimates of $15.58 billion.

Concentric Capital Strategies LP decreased its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 82.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,663 shares of the enterprise software provider's stock after selling 16,656 shares during the period. Concentric Capital Strategies LP's holdings in Oracle were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ORCL. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC grew its stake in shares of Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after buying an additional 151 shares during the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle in the 4th quarter worth approximately $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Oracle in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ORCL. CIBC restated a "buy" rating on shares of Oracle in a research note on Monday, June 9th. Oppenheimer restated an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Cowen restated a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $190.00 to $270.00 in a research note on Thursday, July 10th. Finally, Barclays reiterated an "overweight" rating and set a $221.00 target price (up from $202.00) on shares of Oracle in a research note on Friday, June 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Insider Transactions at Oracle

In other news, insider Michael D. Sicilia sold 15,880 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the transaction, the insider directly owned 99,212 shares in the company, valued at $25,247,469.76. This trade represents a 13.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,183 shares of company stock worth $86,521,198. Company insiders own 42.20% of the company's stock.

Oracle Stock Down 0.3%

Oracle stock opened at $222.89 on Friday. The firm has a market cap of $626.06 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 3.34 and a beta of 1.46. The stock has a fifty day simple moving average of $238.93 and a two-hundred day simple moving average of $186.25. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. Equities analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 46.08%.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.