ICONIQ Capital LLC Has $42.21 Million Stock Holdings in Oracle Corporation $ORCL

Key Points

• ICONIQ Capital LLC significantly increased its position in Oracle Corporation by 4,612.9% during the first quarter, owning over 301,909 shares valued at approximately $42.21 million.
• Oracle's recent earnings report showed a profit of $1.70 per share, exceeding expectations, with total revenue of $15.90 billion for the quarter—a year-over-year increase of 11.3%.
• The firm announced a quarterly dividend of $0.50 per share, reflecting an annualized dividend of $2.00 and a current dividend yield of 0.8%.

ICONIQ Capital LLC raised its position in Oracle Corporation (NYSE:ORCL - Free Report) by 4,612.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,909 shares of the enterprise software provider's stock after buying an additional 295,503 shares during the quarter. Oracle accounts for 0.8% of ICONIQ Capital LLC's holdings, making the stock its 14th biggest holding. ICONIQ Capital LLC's holdings in Oracle were worth $42,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORCL. Redmont Wealth Advisors LLC acquired a new position in Oracle in the 1st quarter valued at $27,000. Inlight Wealth Management LLC acquired a new position in Oracle in the 1st quarter valued at $28,000. Iron Horse Wealth Management LLC grew its holdings in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after buying an additional 151 shares in the last quarter. Sunbeam Capital Management LLC acquired a new position in Oracle in the 4th quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Oracle in the 4th quarter valued at $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Price Performance

Shares of ORCL stock opened at $236.1670 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87. The company has a market cap of $663.35 billion, a P/E ratio of 54.42, a P/E/G ratio of 3.53 and a beta of 1.43. The business has a fifty day simple moving average of $235.36 and a 200 day simple moving average of $182.87.

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

Oracle Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup raised Oracle from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. DA Davidson increased their target price on Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Oracle in a report on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. Finally, KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.04.

Insider Buying and Selling at Oracle

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares in the company, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock worth $86,521,198 over the last quarter. 42.20% of the stock is currently owned by company insiders.

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.

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