Townsquare Capital LLC Grows Holdings in Oracle Corporation (NYSE:ORCL)

Key Points

• Townsquare Capital LLC increased its holdings in Oracle Corporation by 13.1% during the first quarter, owning a total of 488,979 shares valued at approximately $68.36 million.
• Oracle reported earnings of $1.70 per share for the recent quarter, exceeding analyst estimates, with revenue of $15.90 billion, a 11.3% increase year-over-year.
• The stock has a current market cap of $700.47 billion, with analysts providing an average price target of $222.75 and indicating a consensus rating of "Moderate Buy".

Townsquare Capital LLC raised its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 488,979 shares of the enterprise software provider's stock after acquiring an additional 56,607 shares during the quarter. Oracle accounts for about 0.7% of Townsquare Capital LLC's holdings, making the stock its 25th biggest position. Townsquare Capital LLC's holdings in Oracle were worth $68,364,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Oracle by 15,012.3% in the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock valued at $664,810,000 after buying an additional 4,723,631 shares in the last quarter. Vanguard Group Inc. raised its position in Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock worth $22,498,982,000 after acquiring an additional 3,513,464 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Oracle by 20.5% during the fourth 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 worth $2,303,858,000 after acquiring an additional 2,350,448 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Oracle by 268.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider's stock valued at $512,909,000 after purchasing an additional 2,242,520 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Oracle by 12.5% in the fourth 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 during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Guggenheim lifted their price objective on Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Barclays reissued an "overweight" rating and issued a $221.00 price target (up from $202.00) on shares of Oracle in a report on Friday, June 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $240.00 price objective (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. DA Davidson lifted their price objective on Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Finally, Piper Sandler upgraded shares of 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. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Oracle presently has an average rating of "Moderate Buy" and a consensus target price of $222.75.

Insider Activity

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 stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares of the company's stock, valued at $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock worth $86,521,198 in the last quarter. Insiders own 42.20% of the company's stock.

Oracle Trading Up 0.3%

Shares of Oracle stock traded up $0.65 during trading hours on Friday, reaching $250.04. The stock had a trading volume of 8,301,832 shares, compared to its average volume of 10,356,510. 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 Corporation has a 1 year low of $118.86 and a 1 year high of $260.87. The firm has a market capitalization of $702.32 billion, a price-to-earnings ratio of 57.61, a P/E/G ratio of 3.72 and a beta of 1.43. The firm has a 50 day simple moving average of $222.64 and a two-hundred day simple moving average of $177.85.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the firm posted $1.63 earnings per share. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts anticipate 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend 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.