Erste Asset Management GmbH Buys 60,564 Shares of Oracle Corporation $ORCL

Key Points

• Erste Asset Management GmbH increased its stake in Oracle Corporation by 16.9%, acquiring an additional 60,564 shares, bringing its total holdings to 418,144 shares valued at approximately $58.46 million.
• Oracle reported a 11.3% year-over-year increase in quarterly revenue, achieving $15.90 billion, and earnings of $1.70 per share, surpassing analyst expectations.
• Several analysts raised their price targets for Oracle, with UBS Group setting a new target of $280.00 and several others upgrading their ratings, indicating a consensus rating of "Moderate Buy".

Erste Asset Management GmbH increased its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 16.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 418,144 shares of the enterprise software provider's stock after acquiring an additional 60,564 shares during the period. Erste Asset Management GmbH's holdings in Oracle were worth $58,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle in the 1st quarter valued at about $28,000. Iron Horse Wealth Management LLC raised its stake in Oracle by 284.9% during 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 period. Sunbeam Capital Management LLC acquired a new position in Oracle during the 4th quarter worth approximately $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Oracle during the 4th quarter worth approximately $36,000. Institutional investors own 42.44% of the company's stock.

Oracle Stock Down 5.9%

NYSE ORCL opened at $234.2670 on Wednesday. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $658.02 billion, a PE ratio of 53.98, a PEG ratio of 3.72 and a beta of 1.43. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $260.87. The business's 50-day moving average is $233.11 and its 200 day moving average is $181.51.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Oracle's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Sell-side analysts forecast that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

Insiders Place Their Bets

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock valued at $86,521,198 over the last ninety days. 42.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group boosted their price objective on Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and upped their target price for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Citigroup raised Oracle from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Cowen restated a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. Finally, Barclays restated an "overweight" rating and set a $221.00 target price (up previously from $202.00) on shares of Oracle in a research report on Friday, June 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Oracle Profile

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.

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