Oracle (NYSE:ORCL) Given New $160.00 Price Target at Morgan Stanley

Oracle (NYSE:ORCL - Get Free Report) had its price target cut by equities researchers at Morgan Stanley from $170.00 to $160.00 in a research report issued on Wednesday, MarketBeat reports. The firm currently has an "equal weight" rating on the enterprise software provider's stock. Morgan Stanley's price objective indicates a potential upside of 24.46% from the stock's previous close.

A number of other analysts have also commented on the stock. Barclays cut their price objective on shares of Oracle from $212.00 to $202.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Bank of America reduced their price objective on shares of Oracle from $195.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on Oracle from $140.00 to $135.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Evercore ISI reduced their price target on Oracle from $200.00 to $185.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Finally, Piper Sandler decreased their target price on Oracle from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $176.73.

Oracle Trading Down 0.9 %

Shares of Oracle stock traded down $1.20 during trading hours on Wednesday, hitting $128.56. The company's stock had a trading volume of 8,919,409 shares, compared to its average volume of 9,320,254. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day moving average of $150.85 and a 200 day moving average of $166.34. Oracle has a 12 month low of $112.78 and a 12 month high of $198.31. The company has a market capitalization of $359.58 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 3.46 and a beta of 1.22.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.02). The company had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. Analysts predict that Oracle will post 5 earnings per share for the current year.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of Oracle stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company's stock, valued at $207,331,027.20. This trade represents a 65.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leon E. Panetta sold 5,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $129.77, for a total value of $648,850.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company's stock, valued at approximately $7,538,339.30. This represents a 7.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,453,328 shares of company stock worth $454,439,851. Corporate insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

A number of hedge funds and other institutional investors have recently made changes to their positions in ORCL. R Squared Ltd purchased a new position in shares of Oracle in the fourth quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the 4th quarter worth about $30,000. Winch Advisory Services LLC increased its holdings in shares of Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider's stock worth $31,000 after buying an additional 87 shares during the period. Hurley Capital LLC bought a new position in shares of Oracle during the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Oracle during the fourth quarter valued at approximately $34,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

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.