Picton Mahoney Asset Management lessened its holdings in Oracle Co. (NYSE:ORCL) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,400 shares of the enterprise software provider’s stock after selling 45,600 shares during the quarter. Picton Mahoney Asset Management’s holdings in Oracle were worth $5,314,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Oracle by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after acquiring an additional 4,678,977 shares during the last quarter. Harris Associates L P lifted its stake in shares of Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after acquiring an additional 1,835,835 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Oracle by 5.8% in the 2nd quarter. Franklin Resources Inc. now owns 40,206,990 shares of the enterprise software provider’s stock valued at $2,015,961,000 after acquiring an additional 2,193,120 shares during the last quarter. 58.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oracle Co. (ORCL) opened at $52.58 on Wednesday. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle Co. has a 1-year low of $42.40 and a 1-year high of $53.48. The firm has a market capitalization of $217,660.00, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05.
Oracle announced that its Board of Directors has approved a stock buyback plan 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 plans are generally an indication that the company’s board of directors believes its stock is undervalued.
ORCL has been the subject of a number of research reports. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Wednesday, November 15th. Vetr cut Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 price target for the company. in a research note on Monday, November 20th. Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price target on shares of Oracle in a research note on Tuesday, November 21st. Royal Bank of Canada increased their price target on Oracle to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. Finally, JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have given a buy rating to the company. Oracle has an average rating of “Buy” and a consensus target price of $55.76.
In other news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,250 shares of company stock valued at $98,316,475. Company insiders own 29.00% 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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