Oracle Company, listed on the New York Stock Exchange as ORCL, experienced significant growth in short interest in June. The total short interest as of June 15 was 19,380,000 shares, marking a 27.5% increase from the previous month. This amounts to 1.2% of the company’s shares being sold short with a days-to-cover ratio of 2.4 days based on the average trading volume.
Internal activity at Oracle included Director Michael J. Boskin selling 45,000 shares of the company’s stock on May 7th, and insider Edward Screven selling 235,918 shares on June 20th. Overall, insiders have sold 385,639 shares in the last three months, with 42.80% of shares owned by insiders.
Various hedge funds have adjusted their holdings in Oracle stock, with Contour Asset Management LLC, Sandy Spring Bank, Hancock Whitney Corp, LVM Capital Management Ltd. MI, and Heritage Wealth Advisors all making changes. Currently, 42.44% of Oracle shares are held by institutional investors.
Wall Street analysts have offered mixed views on Oracle, with some upgrading the stock to an “outperform” rating while others maintain a “market perform” or “neutral” rating. The stock has an average rating of “moderate buy” with an average price target of $145.83.
Oracle’s performance on the stock market has been stable, with the company opening at $143.09. It has a market capitalization of $394.34 billion and a price-to-earnings ratio of 38.57. The company recently reported quarterly earnings that fell slightly below analysts’ expectations.
Additionally, Oracle announced a quarterly dividend that will be paid in July, with an annualized dividend yield of 1.12%. The company’s dividend payout ratio is 43.13%.
Oracle Corporation offers a range of products and services focused on enterprise information technology environments globally. This includes various cloud software applications such as enterprise resource planning, performance management, supply chain management, human capital management, healthcare, advertising, and suite of applications for sales, service, and marketing.
Overall, Oracle continues to be a key player in the enterprise software market, with a diverse range of products and a strong presence in cloud services. The company’s stock performance and dividend payouts reflect its stability and long-term growth potential in the industry.
Article Source
https://www.defenseworld.net/2024/07/02/oracle-co-nyseorcl-short-interest-update.html