Oracle (NYSE:ORCL) Shares Gap Up After Analyst Upgrade

Oracle Corporation (NYSE:ORCL)’s stock price gapped up prior to trading on Monday after The Goldman Sachs Group raised their price target on the stock from $195.00 to $310.00. The stock had previously closed at $292.18, but opened at $306.45. The Goldman Sachs Group currently has a neutral rating on the stock. Oracle shares last traded at $303.91, with a volume of 8,641,855 shares trading hands.

A number of other equities analysts have also weighed in on ORCL. TD Cowen increased their target price on Oracle from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Berenberg Bank increased their target price on Oracle from $202.00 to $306.00 and gave the stock a “hold” rating in a research note on Monday. Royal Bank Of Canada increased their target price on Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 12th. Bank of America upgraded Oracle from a “neutral” rating to a “buy” rating and increased their target price for the stock from $295.00 to $368.00 in a research note on Wednesday, September 10th. Finally, Scotiabank reissued an “outperform” rating on shares of Oracle in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $303.44.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the sale, the director owned 31,447 shares of the company’s stock, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Sicilia sold 15,880 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the sale, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. This represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,183 shares of company stock worth $7,141,698. 42.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oracle

Large investors have recently modified their holdings of the business. Winnow Wealth LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at $28,000. Kilter Group LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at $30,000. LGT Financial Advisors LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at $33,000. Legend Financial Advisors Inc. bought a new position in shares of Oracle in the 2nd quarter valued at $34,000. Finally, HighMark Wealth Management LLC bought a new position in shares of Oracle in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Up 3.4%

The company has a market capitalization of $858.48 billion, a P/E ratio of 69.93, a PEG ratio of 3.16 and a beta of 1.46. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33. The stock has a 50 day moving average price of $246.08 and a 200 day moving average price of $191.63.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle’s dividend payout ratio is presently 46.30%.

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.