Canoe Financial LP Has $16.32 Million Stock Holdings in Oracle Corporation (NYSE:ORCL)

Canoe Financial LP cut its position in shares of Oracle Corporation (NYSE:ORCL) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,698 shares of the enterprise software provider’s stock after selling 3,700 shares during the quarter. Canoe Financial LP’s holdings in Oracle were worth $16,316,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $30,000. Hurley Capital LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider now owns 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 disclosure for this sale can be found here. Insiders sold a total of 442,366 shares of company stock worth $83,395,223 over the last ninety days. 42.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ORCL shares. Cantor Fitzgerald cut their target price on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. UBS Group reiterated a “buy” rating and issued a $225.00 target price (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Roth Capital reiterated a “hold” rating on shares of Oracle in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, June 12th. Finally, Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Eleven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus target price of $196.74.

Oracle Price Performance

Shares of NYSE ORCL opened at $205.06 on Friday. The firm has a market cap of $573.53 billion, a PE ratio of 47.25, a PEG ratio of 3.16 and a beta of 1.32. The company has a current ratio of 0.75, a quick ratio of 1.02 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 $216.60. The company has a fifty day moving average price of $160.39 and a 200 day moving average price of $161.52.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. Research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.98%. 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.