JAT Capital Mgmt LP Acquires 46,067 Shares of Oracle Corporation $ORCL

Key Points

• JAT Capital Mgmt LP increased its stake in Oracle Corporation by 36.4%, acquiring an additional 46,067 shares, which now represent 8.6% of its portfolio.
• Oracle's recent quarterly earnings report showed earnings per share of $1.70, surpassing estimates, with revenue reaching $15.90 billion, indicating a year-over-year growth of 11.3%.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend of $2.00 and a yield of 0.9%.

JAT Capital Mgmt LP boosted its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,500 shares of the enterprise software provider's stock after purchasing an additional 46,067 shares during the quarter. Oracle comprises about 8.6% of JAT Capital Mgmt LP's holdings, making the stock its 4th biggest position. JAT Capital Mgmt LP's holdings in Oracle were worth $24,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Clarkston Capital Partners LLC raised its stake in Oracle by 1.1% in the 1st quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider's stock valued at $879,000 after purchasing an additional 68 shares during the last quarter. Tacita Capital Inc raised its stake in Oracle by 6.0% in the 1st quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider's stock valued at $174,000 after purchasing an additional 70 shares during the last quarter. Flynn Zito Capital Management LLC raised its stake in Oracle by 1.7% in the 1st quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock valued at $606,000 after purchasing an additional 71 shares during the last quarter. Tiller Private Wealth Inc. raised its stake in Oracle by 4.6% in the 1st quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after purchasing an additional 71 shares during the last quarter. Finally, Cadence Bank raised its stake in Oracle by 1.0% in the 1st quarter. Cadence Bank now owns 7,440 shares of the enterprise software provider's stock valued at $1,040,000 after purchasing an additional 71 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ORCL has been the subject of several analyst reports. Citigroup upgraded Oracle from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Mizuho upped their target price on Oracle from $245.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Morgan Stanley restated an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. KeyCorp upped their target price on Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Bank of America upped their target price on Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.04.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 10,000 shares of the company's 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 in the company, valued at $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Sicilia sold 15,880 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the sale, the insider owned 99,212 shares in the company, valued at $25,247,469.76. The trade was a 13.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Insiders own 42.20% of the company's stock.

Oracle Price Performance

Shares of NYSE ORCL traded down $1.75 during trading on Wednesday, reaching $223.55. The company had a trading volume of 8,756,134 shares, compared to its average volume of 9,853,720. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87. The stock has a market capitalization of $627.92 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 3.38 and a beta of 1.46. The stock has a 50-day moving average price of $238.74 and a two-hundred day moving average price of $185.91. 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 announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $1.63 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.50 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.9%. Oracle's payout ratio 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.