Shorepoint Capital Partners LLC Reduces Holdings in Oracle Co. (NYSE:ORCL)

Shorepoint Capital Partners LLC decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 5.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,580 shares of the enterprise software provider’s stock after selling 715 shares during the quarter. Shorepoint Capital Partners LLC’s holdings in Oracle were worth $1,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Suvretta Capital Management LLC increased its holdings in Oracle by 2.3% in the first quarter. Suvretta Capital Management LLC now owns 366,513 shares of the enterprise software provider’s stock valued at $34,056,000 after buying an additional 8,200 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in Oracle by 176.1% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 26,782 shares of the enterprise software provider’s stock worth $2,489,000 after acquiring an additional 17,083 shares during the period. Equitable Holdings Inc. raised its position in Oracle by 8.4% during the 1st quarter. Equitable Holdings Inc. now owns 10,326 shares of the enterprise software provider’s stock worth $959,000 after buying an additional 797 shares during the last quarter. Advisor Partners II LLC lifted its position in Oracle by 11.7% in the first quarter. Advisor Partners II LLC now owns 109,390 shares of the enterprise software provider’s stock valued at $10,164,000 after purchasing an additional 11,445 shares during the period. Finally, Deutsche Bank AG increased its position in Oracle by 5.1% during the 1st quarter. Deutsche Bank AG now owns 4,313,147 shares of the enterprise software provider’s stock worth $400,778,000 after purchasing an additional 210,681 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ORCL shares. Stifel Nicolaus increased their price objective on shares of Oracle from $84.00 to $120.00 in a report on Tuesday, June 13th. BMO Capital Markets upped their target price on shares of Oracle from $96.00 to $132.00 in a research note on Tuesday, June 13th. StockNews.com initiated coverage on Oracle in a research note on Thursday, August 17th. They set a “hold” rating on the stock. UBS Group upgraded shares of Oracle from a “neutral” rating to a “buy” rating and upped their target price for the stock from $120.00 to $140.00 in a research report on Tuesday, August 29th. Finally, KeyCorp upped their price target on shares of Oracle from $105.00 to $120.00 in a research note on Friday, June 9th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.11.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 3,680 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $115.00, for a total transaction of $423,200.00. Following the completion of the sale, the executive vice president now owns 16,600 shares in the company, valued at approximately $1,909,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Oracle news, EVP Maria Smith sold 3,680 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $115.00, for a total transaction of $423,200.00. Following the completion of the sale, the executive vice president now directly owns 16,600 shares in the company, valued at $1,909,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Berg sold 4,866 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $125.31, for a total transaction of $609,758.46. Following the sale, the director now directly owns 207,409 shares in the company, valued at approximately $25,990,421.79. The disclosure for this sale can be found here. Insiders have sold 4,175,443 shares of company stock valued at $510,658,596 in the last 90 days. 43.70% of the stock is currently owned by insiders.

Oracle Trading Down 0.1 %

Shares of NYSE ORCL traded down $0.18 during mid-day trading on Monday, hitting $126.14. The company’s stock had a trading volume of 4,021,836 shares, compared to its average volume of 8,446,221. The company has a debt-to-equity ratio of 55.54, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $342.38 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company’s fifty day simple moving average is $117.37 and its 200-day simple moving average is $105.44. Oracle Co. has a one year low of $60.78 and a one year high of $127.54.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, June 12th. The enterprise software provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.09. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.74 billion. Oracle had a net margin of 17.02% and a negative return on equity of 470.73%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. On average, sell-side analysts anticipate that Oracle Co. will post 4.5 earnings per share for the current fiscal year.

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.