Oracle Company (New York Stock Exchange: ORCL) experienced a significant spike in short positions in June, with 19,380,000 shares being shorted, marking a 27.5% increase from the previous month. This equates to a days-to-cover ratio of 2.4 days with 1.2% of the company’s shares sold short.
Wall Street analysts have shared varying opinions on ORCL stock, with different target prices and ratings. JPMorgan Chase & Co. raised the target price to $110.00, Marking it a “neutral” rating. Meanwhile, Mizuho upgraded their price target to $170.00 and labeled it as a “buy” rating. Overall, the consensus rating is a “moderate buy” with an average price target of $145.83.
In terms of internal activity, insiders within Oracle have conducted significant transactions. Edward Screven sold 235,918 shares, and Director George H. Conrades sold 25,000 shares of the company’s stock. Insiders have sold a total of 385,639 shares worth $53,002,729 in the last quarter, reflecting 42.80% insider ownership.
Institutional investors have also made notable changes in their positions with organizations like Vanguard Group and Capital World Investors increasing their stakes in Oracle. Institutional investors hold 42.44% of the company’s shares.
Oracle’s price performance on the New York Stock Exchange shows a strong market capitalization of $394.34 billion and a low of $99.26 to a high of $145.32 in the past 52 weeks. The company last reported quarterly earnings with an EPS of $1.63, missing the consensus estimate. Revenue for the quarter was $14.29 billion with a net margin of 19.76%.
Additionally, Oracle announced a quarterly dividend of $0.40 to be paid on July 25, with an annualized dividend yield of 1.12%. The ex-dividend date is set for July 11.
Oracle Corporation offers various products and services focusing on enterprise information technology environments globally, including cloud software applications like ERP, enterprise performance management, supply chain and manufacturing management, human capital management, healthcare solutions, advertising, and sales.
Overall, Oracle continues to be a strong player in the technology industry with a mix of internal activities, analyst ratings, institutional investments, and financial performance contributing to its market presence.
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https://www.defenseworld.net/2024/07/02/oracle-co-nyseorcl-sees-significant-growth-in-short-interest.html