First Eagle Investment Management has recently announced that it has increased stake in Oracle Corporation (NYSE:ORCL) by 0.01%. After grabbing 25.92 million shares, the institutional investor is now in possession of 1752.0 shares of the Technology Company. The new investment brought the stake of investor firm to 0.96% having worth around $2.02 billion. Moreover, Fisher Asset Management LLC increased its share by 0.32 million to have a control over 17.62 million shares. And Fidelity Management & Research Co raised its holdings to 0.82 million shares by acquiring 16.63 million shares or 0.62% of the stake.
Oracle Corporation (ORCL) concluded trading on 11/23/22 at a closing price of $82.56, with 6.35 million shares of worth about $524.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 18.23% during that period and on Wednesday the price saw a gain of about 0.54%. Currently the company’s common shares owned by public are about 2.69B shares, out of which, 1.54B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 31 analysts are covering the ORCL stock and their offered price forecasts bring an average price target of $86.48. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $120.00 and could fall to a lowest price of $55.00. The stock’s current price level is 5.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -50.11% for the stock. However, touching the estimated high of $120.00 would mean a gain of 31.2% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 70 times over the past 12 months. They bought 13,486,708 shares in 38 of the transactions. In 32 selling transactions, insiders dumped 6,186,359 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and First Eagle Global Fund are the top 3 mutual funds which are holding stakes in Oracle Corporation Vanguard Total Stock Market Index is currently holding 43.99 million shares of worth totaling $3.43 billion. The company recently came buying 0.22 million shares which brought its stake up to 1.63% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.34 million shares, after which its hold over company’s outstanding shares expand to 1.29%, leaving 34.76 million shares with the mutual fund that have a worth of about $2.71 billion. First Eagle Global Fund, after buying 18.45 million shares, have now control over 0.69% of the stake in the company. It holds 0.0 shares of worth $1.44 billion.
However, the stock later moved at a day high price of 82.92, or with a gain of 0.54%. Stock saw a price change of 3.34% in past 5 days and over the past one month there was a price change of 12.88%. Year-to-date (YTD), ORCL shares are showing a performance of -5.33% which decreased to -11.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $60.78 but also hit the highest price of $106.34 during that period. The average intraday trading volume for Oracle Corporation shares is 8.96 million. The stock is currently trading 6.52% above its 20-day simple moving average (SMA20), while that difference is up 16.68% for SMA50 and it goes to 11.41% higher than SMA200.
First Eagle Investment Management acquired 25.92 million shares of Oracle Corporation having value of about $2.02 billion. Data submitted at the U.S SEC by First Eagle Investment Management revealed that the firm now holds 1752.0 shares in the company valued at close to $144645.12, or have control over 0.01% stake in the company. Oracle Corporation (NYSE: ORCL) currently have 2.69B outstanding shares and institutions hold larger chunk of about 42.80% of that. Holding of mutual funds in the company is about 21.53% while other institutional holders and individual stake holders have control over 42.91% and 21.10% of the stake respectively.
The stock has a current market capitalization of $221.12B and its 3Y-monthly beta is at 1.02. PE ratio of stock for trailing 12 months is 39.22, while it has posted earnings per share of $2.10 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ORCL, volatility over the week remained 1.94% while standing at 2.53% over the month.
Analysts are in expectations that Oracle Corporation (ORCL) stock would likely to be making an EPS of $1.18 in the current quarter, while forecast for next quarter EPS is $1.24 and it is $5.66 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.15 which is $1.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.21 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -47.00% while it is estimated to increase by 14.60% in next year. EPS is likely to grow at an annualized rate of 10.80% for next 5-years, compared to annual growth of 1.50% made by the stock over the past 5-years.
Analysts at 31 brokerage firms have issued recommendations for the Oracle Corporation (ORCL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 31 Wall Street analysts, 10 recommended a “Buy” rating, while 17 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on October 21, 2022 offering an Overweight rating for the stock and assigned a target price of $80 to it. Coverage by Piper Sandler stated Oracle Corporation (ORCL) stock as a Neutral in their note to investors on October 20, 2022, suggesting a price target of $70 for the stock. On September 14, 2022, Berenberg Initiated their recommendations, while on August 12, 2022, Guggenheim Initiated their ratings for the stock with a price target of $107. Stock get an Outperform rating from Exane BNP Paribas on June 29, 2022.