Perigon Wealth Management LLC grew its stake in shares of Oracle Co. (NYSE:ORCL) by 192.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,936 shares of the enterprise software provider’s stock after acquiring an additional 7,195 shares during the period. Perigon Wealth Management LLC’s holdings in Oracle were worth $482,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new position in shares of Oracle in the 1st quarter valued at about $106,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Oracle in the 1st quarter valued at about $106,000. Financial Gravity Wealth Inc. acquired a new position in shares of Oracle in the 1st quarter valued at about $130,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Oracle in the 2nd quarter valued at about $126,000. Finally, Clearwater Capital Advisors LLC acquired a new position in shares of Oracle in the 1st quarter valued at about $134,000. 53.65% of the stock is owned by institutional investors.
ORCL stock opened at $48.58 on Wednesday. Oracle Co. has a 52 week low of $42.57 and a 52 week high of $53.48. The stock has a market cap of $201.10 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.96 and a current ratio of 3.96.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, June 19th. The enterprise software provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05. Oracle had a net margin of 9.61% and a return on equity of 23.14%. The company had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $11.17 billion. During the same period in the previous year, the firm earned $0.89 EPS. Oracle’s revenue was up 2.9% on a year-over-year basis. research analysts expect that Oracle Co. will post 3.05 EPS for the current year.
In other Oracle news, EVP W Corey West sold 48,000 shares of the business’s stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $43.73, for a total transaction of $2,099,040.00. Following the sale, the executive vice president now directly owns 907 shares in the company, valued at approximately $39,663.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total transaction of $179,137.50. Following the sale, the director now owns 27,969 shares in the company, valued at $1,336,079.13. The disclosure for this sale can be found here. Insiders have sold a total of 550,500 shares of company stock worth $24,719,865 over the last 90 days. 29.00% of the stock is owned by insiders.
Several research analysts have recently commented on ORCL shares. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a report on Monday, June 25th. Credit Suisse Group set a $60.00 price objective on shares of Oracle and gave the company a “buy” rating in a research report on Monday, June 18th. KeyCorp reiterated a “hold” rating on shares of Oracle in a research report on Friday, June 15th. ValuEngine upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Wedbush downgraded shares of Oracle from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $49.00 in a research report on Wednesday, June 20th. Fifteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.56.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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