Prana Capital Management LP Trims Stock Holdings in Oracle Co. (NYSE:ORCL)

Prana Capital Management LP reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 72.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,453 shares of the enterprise software provider’s stock after selling 110,956 shares during the quarter. Prana Capital Management LP’s holdings in Oracle were worth $7,064,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Menard Financial Group LLC bought a new stake in shares of Oracle during the 3rd quarter valued at $231,000. Mission Creek Capital Partners Inc. boosted its position in shares of Oracle by 6.5% in the third quarter. Mission Creek Capital Partners Inc. now owns 11,881 shares of the enterprise software provider’s stock valued at $2,025,000 after acquiring an additional 727 shares during the period. Miura Global Management LLC bought a new stake in Oracle during the 3rd quarter worth approximately $1,704,000. Morse Asset Management Inc purchased a new stake in shares of Oracle in the third quarter worth $2,590,000. Finally, IHT Wealth Management LLC boosted its stake in Oracle by 35.5% during the third quarter. IHT Wealth Management LLC now owns 21,610 shares of the enterprise software provider’s stock valued at $3,671,000 after buying an additional 5,663 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Performance

Oracle stock opened at $182.89 on Wednesday. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $196.04. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock’s 50 day moving average is $178.10 and its 200 day moving average is $152.85. The company has a market capitalization of $506.80 billion, a P/E ratio of 47.14, a PEG ratio of 3.34 and a beta of 1.03.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.87%. Oracle’s payout ratio is 41.24%.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle 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 completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 42.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler boosted their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Evercore ISI increased their price objective on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Melius Research upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. JMP Securities increased their price target on shares of Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research report on Friday, October 18th. Finally, Melius upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $169.52.

Oracle Profile

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.