Oracle gets upgrade from Bank of America, Goldman Sachs

Oracle Co. (NYSE:ORCL)’s share price gapped up prior to trading on Monday after Bank of America raised their price target on the stock from $60.00 to $65.00.

The stock had previously closed at $57.00, but opened at $61.26. Bank of America currently has a neutral rating on the stock. Oracle shares last traded at $61.26, with a volume of 150,726 shares changing hands.

ORCL has been the subject of a number of other reports. Goldman Sachs Group boosted their price objective on Oracle from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Credit Suisse Group increased their price target on Oracle from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, September 11th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $59.00 price objective on shares of Oracle in a report on Monday, June 8th. Royal Bank of Canada increased their target price on shares of Oracle from $51.00 to $60.00 and gave the company a “sector perform” rating in a report on Friday, September 11th.

Finally, Piper Sandler boosted their price target on shares of Oracle from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.34.

In other news, Chairman Lawrence Joseph Ellison sold 1,400,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $54.11, for a total transaction of $75,754,000.00. Following the sale, the chairman now directly owns 1,140,132,353 shares in the company, valued at $61,692,561,620.83. The sale was disclosed in a document filed with the SEC, which is available at this link.

Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $54.08, for a total transaction of $21,632,000.00. Following the completion of the sale, the insider now directly owns 400,000 shares in the company, valued at $21,632,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,422,652 shares of company stock valued at $352,123,746. 36.60% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of ORCL. Vanguard Group Inc. lifted its position in Oracle by 9.1% during the second quarter. Vanguard Group Inc. now owns 189,431,168 shares of the enterprise software provider’s stock valued at $10,469,860,000 after purchasing an additional 15,843,802 shares during the last quarter.

Bank of New York Mellon Corp grew its position in Oracle by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 34,865,028 shares of the enterprise software provider’s stock worth $1,926,989,000 after acquiring an additional 705,208 shares in the last quarter. Nordea Investment Management AB increased its stake in Oracle by 109.0% in the second quarter. Nordea Investment Management AB now owns 29,962,944 shares of the enterprise software provider’s stock valued at $1,650,358,000 after acquiring an additional 15,627,102 shares during the last quarter. Franklin Resources Inc. raised its position in Oracle by 3.7% during the first quarter.

Franklin Resources Inc. now owns 24,849,265 shares of the enterprise software provider’s stock valued at $1,200,989,000 after purchasing an additional 886,375 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Oracle by 7.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 21,344,720 shares of the enterprise software provider’s stock valued at $1,031,591,000 after purchasing an additional 1,466,231 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

The company has a current ratio of 2.66, a quick ratio of 3.03 and a debt-to-equity ratio of 6.68. The stock has a market capitalization of $187.01 billion, a PE ratio of 19.10, a PEG ratio of 1.44 and a beta of 0.83. The business has a fifty day moving average price of $55.93 and a 200-day moving average price of $53.23.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, September 10th. The enterprise software provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. Oracle had a net margin of 26.13% and a return on equity of 85.71%. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, equities analysts anticipate that Oracle Co. will post 3.59 earnings per share for the current fiscal year.

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