Oracle (NYSE:ORCL) Stock Price Down 2% After Insider Selling

Oracle Co. (NYSE:ORCL)’s stock price was down 2% on Monday after an insider sold shares in the company. The stock traded as low as $210.81 and last traded at $211.00. Approximately 8,844,251 shares traded hands during trading, a decline of 9% from the average daily volume of 9,720,206 shares. The stock had previously closed at $215.22.

Specifically, Vice Chairman Jeffrey Henley sold 400,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now directly owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of research analysts have recently commented on ORCL shares. Cantor Fitzgerald lowered their price objective on Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Oracle from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler restated a “neutral” rating and issued a $130.00 price target on shares of Oracle in a research report on Wednesday, June 11th. Loop Capital set a $135.00 target price on shares of Oracle in a research note on Tuesday, June 10th. Finally, Stephens began coverage on Oracle in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 price target for the company. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.32.

Oracle Stock Performance

The firm has a market cap of $593.03 billion, a price-to-earnings ratio of 51.80, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. The stock has a 50-day moving average of $152.88 and a 200-day moving average of $160.31. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL) last released its quarterly earnings data 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 21.16% and a return on equity of 133.25%. The firm had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s payout ratio is 46.08%.

Institutional Investors Weigh In On Oracle

Several hedge funds have recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC bought a new stake in Oracle during the 4th quarter worth approximately $30,000. Hurley Capital LLC bought a new stake in Oracle during the 4th quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in Oracle during the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle during the 1st quarter valued at $28,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after acquiring an additional 151 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Company 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.