Cornerstone Advisors Inc. Has $844,000 Position in Oracle Corporation (ORCL)
Cornerstone Advisors Inc. lifted its position in Oracle Corporation (NYSE:ORCL) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,827 shares of the enterprise software provider’s stock after purchasing an additional 969 shares during the period. Oracle Corporation comprises about 0.5% of Cornerstone Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Cornerstone Advisors Inc.’s holdings in Oracle Corporation were worth $844,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Oracle Corporation by 20.1% in the 1st quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock valued at $813,427,000 after purchasing an additional 3,054,765 shares during the period. LGT Capital Partners LTD. lifted its stake in shares of Oracle Corporation by 14.0% in the 2nd quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock valued at $31,260,000 after purchasing an additional 76,653 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Oracle Corporation in the 1st quarter valued at $1,522,000. BerganKDV Wealth Management LLC lifted its stake in shares of Oracle Corporation by 2.3% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,586 shares of the enterprise software provider’s stock valued at $581,000 after purchasing an additional 255 shares during the period. Finally, Quotient Investors LLC lifted its stake in shares of Oracle Corporation by 263.2% in the 1st quarter. Quotient Investors LLC now owns 41,811 shares of the enterprise software provider’s stock valued at $1,865,000 after purchasing an additional 30,300 shares during the period. Hedge funds and other institutional investors own 58.67% of the company’s stock.
Shares of Oracle Corporation (ORCL) traded down 0.29% during trading on Friday, reaching $51.58. 10,356,483 shares of the company’s stock traded hands. The company has a 50 day moving average price of $49.81 and a 200 day moving average price of $46.65. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $51.88. The stock has a market capitalization of $213.37 billion, a PE ratio of 23.34 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. Oracle Corporation’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. On average, equities analysts forecast that Oracle Corporation will post $2.95 EPS for the current fiscal year.
Several equities analysts recently issued reports on ORCL shares. Goldman Sachs Group, Inc. (The) set a $49.00 target price on shares of Oracle Corporation and gave the company a “buy” rating in a research note on Monday, June 12th. Rosenblatt Securities reissued a “buy” rating and issued a $55.00 price target on shares of Oracle Corporation in a report on Wednesday, June 21st. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Thursday, June 15th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $49.00 price target on shares of Oracle Corporation in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. Oracle Corporation currently has an average rating of “Buy” and a consensus target price of $51.47.
In other Oracle Corporation news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total value of $183,225.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,587.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Chizen sold 206,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total value of $10,260,937.50. Following the completion of the transaction, the director now directly owns 63,985 shares in the company, valued at $3,183,253.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,817,500 shares of company stock worth $91,560,925 over the last three months. 29.00% of the stock is currently owned by corporate insiders.
Oracle Corporation Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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