Oracle Corporation $ORCL Shares Purchased by 1248 Management LLC

Key Points

• 1248 Management LLC has significantly increased its stake in Oracle Corporation by 501.9%, now holding 30,198 shares worth approximately $4.22 million, making Oracle its 14th largest position.
• Several analysts have raised their price targets for Oracle, with Wolfe Research setting a new target at $400 and others following suit, indicating a consensus target price of $296.84.
• Oracle has reported a net margin of 21.08% and surpassed earnings expectations, posting $1.70 earnings per share compared to a consensus estimate of $1.64.

1248 Management LLC lifted its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 501.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,198 shares of the enterprise software provider's stock after acquiring an additional 25,181 shares during the quarter. Oracle accounts for 1.7% of 1248 Management LLC's investment portfolio, making the stock its 14th largest position. 1248 Management LLC's holdings in Oracle were worth $4,222,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Clarkston Capital Partners LLC lifted its holdings in Oracle by 1.1% during the 1st quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider's stock worth $879,000 after buying an additional 68 shares in the last quarter. Tacita Capital Inc increased its stake in Oracle by 6.0% in the first 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 period. Flynn Zito Capital Management LLC increased its stake in Oracle by 1.7% in the first 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 period. Tiller Private Wealth Inc. increased its stake in Oracle by 4.6% in the first 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 period. Finally, Cadence Bank increased its stake in Oracle by 1.0% in the first 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 period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORCL has been the topic of several analyst reports. Wolfe Research lifted their target price on shares of Oracle from $300.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Oracle from $185.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday. TD Cowen lifted their target price on shares of Oracle from $325.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday. Piper Sandler lifted their price target on shares of Oracle from $270.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Melius Research lifted their price target on shares of Oracle from $270.00 to $370.00 and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $296.84.

Insider Transactions at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction on 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 sale, the insider directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rona Alison Fairhead bought 480 shares of the company's stock in a transaction on 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 completion of the acquisition, the director directly owned 22,110 shares of the company's stock, valued at $5,170,865.70. This trade represents a 2.22% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 44,183 shares of company stock valued at $10,353,198 over the last ninety days. 42.20% of the stock is currently owned by corporate insiders.

Oracle Price Performance

ORCL opened at $307.64 on Friday. The company has a market cap of $864.11 billion, a P/E ratio of 71.21, a P/E/G ratio of 4.91 and a beta of 1.46. The company has a 50 day moving average of $243.59 and a two-hundred day moving average of $189.52. The company has a quick ratio of 0.75, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $345.72.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Oracle's dividend payout ratio is 46.08%.

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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