Oracle Corporation $ORCL Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its Oracle holdings by 5.4%, now owning 608,755 shares valued at $85.11 million after selling 34,841 shares in the first quarter.
• Oracle reported a quarterly earnings of $1.70 per share, exceeding analysts' expectations and posting a revenue of $15.90 billion, reflecting an 11.3% year-over-year increase.
• Several analysts have raised their price targets for Oracle, with Piper Sandler increasing its target from $190 to $270, indicating a strong outlook for the company's stock.

Cresset Asset Management LLC reduced its position in Oracle Corporation (NYSE:ORCL - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 608,755 shares of the enterprise software provider's stock after selling 34,841 shares during the quarter. Cresset Asset Management LLC's holdings in Oracle were worth $85,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Oracle by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock valued at $22,498,982,000 after purchasing an additional 3,513,464 shares in the last quarter. Northern Trust Corp increased its holdings in Oracle by 12.5% in the 4th quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider's stock valued at $3,269,566,000 after purchasing an additional 2,176,892 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Oracle by 20.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock valued at $2,303,858,000 after purchasing an additional 2,350,448 shares in the last quarter. Polen Capital Management LLC increased its holdings in Oracle by 17.6% in the 1st quarter. Polen Capital Management LLC now owns 12,609,101 shares of the enterprise software provider's stock valued at $1,762,878,000 after purchasing an additional 1,885,370 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Oracle by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,975,191 shares of the enterprise software provider's stock valued at $1,534,624,000 after purchasing an additional 94,236 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oracle

In other news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rona Alison Fairhead purchased 480 shares of the business's stock in a transaction dated Monday, July 7th. The shares were acquired at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the acquisition, the director owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Company insiders own 42.20% of the company's stock.

Oracle Stock Performance

NYSE ORCL traded up $3.52 during trading hours on Friday, reaching $248.48. The company's stock had a trading volume of 11,535,891 shares, compared to its average volume of 9,914,906. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The business has a 50-day simple moving average of $230.54 and a 200 day simple moving average of $180.59. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87. The stock has a market cap of $697.94 billion, a PE ratio of 57.25, a PEG ratio of 3.71 and a beta of 1.43.

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 for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's payout ratio is 46.08%.

Analyst Ratings Changes

ORCL has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a report on Thursday, June 12th. The Goldman Sachs Group restated a "neutral" rating and set a $195.00 target price (up from $145.00) on shares of Oracle in a research note on Friday, June 13th. Citigroup upgraded Oracle from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. UBS Group raised their target price on Oracle from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley restated an "overweight" rating on shares of Oracle in a research note on Wednesday, June 18th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $227.04.

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.