Oracle (NYSE:ORCL) Trading Down 4.6% Following Analyst Downgrade

by · The Cerbat Gem

Oracle Corporation (NYSE:ORCL – Get Free Report)’s stock price was down 4.6% during mid-day trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $320.00 to $220.00. The Goldman Sachs Group currently has a neutral rating on the stock. Oracle traded as low as $185.98 and last traded at $189.64. Approximately 54,759,534 shares changed hands during trading, an increase of 225% from the average daily volume of 16,835,406 shares. The stock had previously closed at $198.85.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their price objective on shares of Oracle from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Robert W. Baird reduced their target price on shares of Oracle from $365.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, November 18th. Citigroup decreased their price target on shares of Oracle from $375.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler cut their price objective on Oracle from $380.00 to $290.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Redburn Partners set a $175.00 target price on Oracle in a research report on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.57.

View Our Latest Research Report on Oracle

Insider Buying and Selling

In other news, EVP Maria Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the completion of the sale, the executive vice president owned 47,083 shares of the company’s stock, valued at approximately $13,212,431.46. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Sicilia sold 33,845 shares of Oracle stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $321.16, for a total transaction of $10,869,660.20. Following the completion of the sale, the insider owned 132,656 shares of the company’s stock, valued at approximately $42,603,800.96. This trade represents a 20.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 171,513 shares of company stock worth $50,397,893 over the last 90 days. 40.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oracle

Several large investors have recently modified their holdings of ORCL. FSA Wealth Management LLC bought a new position in shares of Oracle during the third quarter worth about $28,000. Darwin Wealth Management LLC boosted its stake in Oracle by 130.0% during the 3rd quarter. Darwin Wealth Management LLC now owns 115 shares of the enterprise software provider’s stock valued at $32,000 after purchasing an additional 65 shares during the period. Mpwm Advisory Solutions LLC boosted its stake in Oracle by 76.9% during the 3rd quarter. Mpwm Advisory Solutions LLC now owns 115 shares of the enterprise software provider’s stock valued at $32,000 after purchasing an additional 50 shares during the period. Turning Point Benefit Group Inc. bought a new position in Oracle in the 3rd quarter worth about $35,000. Finally, Winnow Wealth LLC acquired a new stake in shares of Oracle in the second quarter valued at approximately $28,000. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a fifty day moving average price of $247.51 and a two-hundred day moving average price of $240.60. The company has a market cap of $540.62 billion, a P/E ratio of 35.65, a PEG ratio of 2.53 and a beta of 1.66.

Oracle (NYSE:ORCL – Get Free Report) last announced its quarterly earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.62. Oracle had a return on equity of 78.59% and a net margin of 25.28%.The company had revenue of $16.06 billion during the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, January 9th. Oracle’s dividend payout ratio is currently 46.30%.

Oracle Company Profile

(Get Free Report)

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.

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