Mane Global Capital Management LP Invests $18.58 Million in Oracle Corporation $ORCL

Mane Global Capital Management LP bought a new position in shares of Oracle Corporation (NYSE:ORCL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 85,000 shares of the enterprise software provider’s stock, valued at approximately $18,584,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ORCL. Brighton Jones LLC lifted its stake in Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock worth $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after purchasing an additional 404 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Oracle during the 1st quarter worth approximately $58,000. Rathbones Group PLC boosted its holdings in shares of Oracle by 5.2% in the 1st quarter. Rathbones Group PLC now owns 23,766 shares of the enterprise software provider’s stock valued at $3,323,000 after buying an additional 1,179 shares in the last quarter. Finally, LGT Fund Management Co Ltd. grew its position in shares of Oracle by 236.1% in the 1st quarter. LGT Fund Management Co Ltd. now owns 4,474 shares of the enterprise software provider’s stock valued at $626,000 after buying an additional 3,143 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORCL has been the subject of a number of research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $320.00 price target on shares of Oracle in a research report on Monday, October 20th. Morgan Stanley lifted their target price on Oracle from $246.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 23rd. Citigroup decreased their target price on Oracle from $415.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, December 4th. Cowen restated a “buy” rating on shares of Oracle in a research note on Thursday, December 4th. Finally, Barclays reduced their price objective on Oracle from $400.00 to $330.00 and set an “overweight” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Oracle Stock Up 0.8%

ORCL opened at $223.27 on Thursday. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $345.72. The business has a 50 day moving average price of $249.32 and a two-hundred day moving average price of $240.90. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. The company has a market cap of $636.50 billion, a PE ratio of 51.68, a P/E/G ratio of 2.51 and a beta of 1.66.

Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, September 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a net margin of 21.08% and a return on equity of 72.93%. The company had revenue of $14.93 billion during the quarter, compared to analysts’ expectations of $15.04 billion. During the same quarter last year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, January 9th. Oracle’s payout ratio is 46.30%.

Insider Buying and Selling at Oracle

In related news, Director Jeffrey Berg sold 49,365 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $283.02, for a total value of $13,971,282.30. Following the completion of the sale, the director owned 151,999 shares in the company, valued at $43,018,756.98. This trade represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Clayton M. Magouyrk sold 40,000 shares of Oracle stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $276.64, for a total value of $11,065,600.00. Following the completion of the sale, the chief executive officer directly owned 154,030 shares in the company, valued at $42,610,859.20. This represents a 20.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 204,254 shares of company stock valued at $60,227,807. Insiders own 40.90% of the company’s stock.

About Oracle

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.