Shellback Capital LP Cuts Position in Oracle Co. (NYSE:ORCL)

Shellback Capital LP lowered its position in shares of Oracle Co. (NYSE:ORCL - Free Report) by 52.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,012 shares of the enterprise software provider's stock after selling 163,000 shares during the period. Oracle accounts for approximately 1.5% of Shellback Capital LP's investment portfolio, making the stock its 22nd biggest holding. Shellback Capital LP's holdings in Oracle were worth $21,040,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Brio Consultants LLC increased its stake in Oracle by 4.1% in the fourth quarter. Brio Consultants LLC now owns 2,942 shares of the enterprise software provider's stock valued at $310,000 after acquiring an additional 117 shares during the last quarter. Precision Wealth Strategies LLC increased its position in Oracle by 4.1% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,951 shares of the enterprise software provider's stock worth $417,000 after purchasing an additional 155 shares in the last quarter. Gilbert & Cook Inc. acquired a new stake in Oracle in the fourth quarter valued at approximately $359,000. Aveo Capital Partners LLC bought a new stake in Oracle during the 4th quarter worth $290,000. Finally, 9258 Wealth Management LLC increased its holdings in Oracle by 0.6% in the 4th quarter. 9258 Wealth Management LLC now owns 90,285 shares of the enterprise software provider's stock worth $9,519,000 after purchasing an additional 560 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Performance

Oracle stock traded down $0.16 during mid-day trading on Friday, reaching $167.94. The company's stock had a trading volume of 3,620,509 shares, compared to its average volume of 8,580,244. The firm's fifty day moving average price is $144.36 and its two-hundred day moving average price is $133.31. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $173.99. The company has a market capitalization of $465.36 billion, a P/E ratio of 44.93, a PEG ratio of 3.05 and a beta of 1.01.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. Oracle's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. Sell-side analysts predict that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle's payout ratio is 43.13%.

Insider Activity

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares of the company's stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company's stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares of the company's stock, valued at approximately $7,076,685. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,573,181 shares of company stock worth $225,338,245. 42.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORCL. StockNews.com raised Oracle from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Melius raised shares of Oracle from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research note on Monday, September 16th. Bank of America raised their target price on Oracle from $155.00 to $175.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 10th. Piper Sandler lifted their price objective on Oracle from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Oracle from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, June 17th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $166.13.

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.