Insider Selling: Oracle Corporation (ORCL) EVP Sells $4,759,000.00 in Stock
Oracle Corporation (NYSE:ORCL) EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Dorian Daley also recently made the following trade(s):
- On Wednesday, October 4th, Dorian Daley sold 76,703 shares of Oracle stock. The shares were sold at an average price of $49.00, for a total value of $3,758,447.00.
- On Monday, October 2nd, Dorian Daley sold 23,297 shares of Oracle stock. The shares were sold at an average price of $49.00, for a total value of $1,141,553.00.
Oracle Corporation (NYSE ORCL) opened at $47.36 on Monday. Oracle Corporation has a 1-year low of $38.30 and a 1-year high of $53.14. The firm has a market cap of $195,720.38, a P/E ratio of 20.33, a P/E/G ratio of 1.80 and a beta of 1.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.
Oracle declared that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Oracle’s payout ratio is currently 32.62%.
Several analysts have weighed in on the company. Moffett Nathanson assumed coverage on Oracle in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price objective on the stock. Vetr raised Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 price objective on the stock in a research report on Monday, September 18th. BidaskClub cut Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Credit Suisse Group reissued an “overweight” rating and issued a $62.00 price target on shares of Oracle in a research report on Monday, September 18th. Finally, Canaccord Genuity dropped their price target on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.26.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Trust Group LLC raised its stake in Oracle by 1.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 3,856,504 shares of the enterprise software provider’s stock valued at $186,463,000 after buying an additional 46,950 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in Oracle by 49.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 812,800 shares of the enterprise software provider’s stock valued at $39,299,000 after buying an additional 267,800 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Oracle by 9.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 9,891,713 shares of the enterprise software provider’s stock valued at $478,264,000 after buying an additional 831,547 shares during the last quarter. Vista Private Wealth Partners. LLC purchased a new stake in Oracle during the 3rd quarter valued at $690,000. Finally, AXA raised its stake in Oracle by 44.2% during the 3rd quarter. AXA now owns 2,783,375 shares of the enterprise software provider’s stock valued at $134,577,000 after buying an additional 853,718 shares during the last quarter. Institutional investors own 57.40% of the company’s stock.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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