Dock Street Asset Management Inc. Enhances Oracle Holdings

Dock Street Asset Management Inc. has significantly increased its investment in Oracle Co. (NYSE:ORCL), enhancing its holdings by a remarkable 9,926.5% during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. The institutional investor now holds 127,337 shares of Oracle, having acquired an additional 126,067 shares in this period. This represents approximately 2.5% of Dock Street's total investment portfolio, making Oracle its 15th largest investment position. As per the recent SEC filing, the value of Dock Street's Oracle holdings stands at $21,219,000.

Other Institutional Investors

A number of other hedge funds have also participated in trading shares of Oracle recently. For instance, Brookstone Capital Management increased its stake in Oracle by 2.3% in the third quarter, bringing its total to 28,458 shares valued at $4,849,000 after acquiring an additional 630 shares. Future Financial Wealth Management LLC initiated a new investment in Oracle during the third quarter at an estimated value of $72,000. Similarly, C2P Capital Advisory Group LLC, operating as Prosperity Capital Advisors, raised its holdings by 76.7% in the same period, accumulating 4,496 shares valued at $766,000 after adding 1,952 shares. Additionally, Wedmont Private Capital upped its shareholding by 14.2%, now owning 89,486 shares valued at $15,210,000 following an acquisition of 11,119 shares. Adirondack Trust Co. also reported a 0.8% increase in its stake, acquiring 8,636 shares worth $1,472,000. Currently, institutional investors and hedge funds control approximately 42.44% of Oracle's stock.

Analyst Ratings Changes

A variety of equity analysts have recently reviewed Oracle's stock. JMP Securities has reaffirmed a "market outperform" rating with a target price set at $205.00 on January 22. Guggenheim revised their price target from $200.00 to $220.00, endorsing a "buy" rating on December 5. On November 15, KeyCorp elevated their target from $190.00 to $200.00, designating the stock as "overweight." DA Davidson adjusted its price target from $140.00 to $150.00 with a "neutral" rating on December 10. Jefferies Financial Group increased its price target from $190.00 to $220.00 with a "buy" rating, also reported on December 5. In terms of stock ratings, one analyst has marked it as a sell, ten maintained a hold rating, eighteen provided a buy rating, and two issued a strong buy rating. The consensus rating for Oracle's stock is classified as a "Moderate Buy" with an average price target of $182.73.

Insider Transactions at Oracle

In other significant developments, CEO Safra Catz executed a substantial transaction by selling 2,101,154 shares of Oracle's stock on January 22 at an average price of $185.35, amounting to a total of approximately $389 million. After this transaction, her shareholding in the company is reduced to 1,118,592 shares, with a total worth around $207 million. This sale represents a 65.26% reduction of her previous holdings. The details were disclosed in a filing with the Securities and Exchange Commission. Overall, insiders own about 42.20% of Oracle's stock.

Oracle Price Performance

The stock of Oracle opened at $172.53 on the latest trading day. Currently, it has a current ratio of 0.81, a quick ratio of 0.81, and a debt-to-equity ratio of 5.65. Oracle's 50-day moving average price is at $170.63 while the 200-day moving average stands at $164.11. Over the past year, its lowest stock price was recorded at $106.51 and the highest at $198.31. Oracle has a market capitalization of approximately $482.56 billion, with a price-to-earnings ratio of 42.18, and a PEG ratio of 3.35, along with a beta value of 1.05.

Oracle Earnings and Dividend Announcement

Oracle revealed its quarterly earnings on December 9, documenting earnings per share of $1.47, which was slightly below the analysts' expectations of $1.48 by a margin of $0.01. The company showcased a return on equity of 133.25% and a net margin of 21.16%. The reported revenue was $14.06 billion for the quarter, compared to the expected $14.12 billion. In the same quarter last year, Oracle posted earnings of $1.34 per share and registered a revenue increase of 8.6% year-over-year. Analysts predict that Oracle will report earnings of $5.00 per share for the current fiscal year.

Additionally, the company declared a quarterly dividend that was distributed on January 9. Shareholders registered as of January 23 received a dividend payment of $0.40 per share, resulting in an annualized dividend yield of 0.93%. The ex-dividend date was January 10, and Oracle’s dividend payout ratio is currently noted at 39.12%.

About Oracle Corporation

Oracle Corporation provides a broad range of products and services that meet the needs of global enterprise IT environments. Its cloud software as a service offerings include an array of applications such as Oracle Fusion cloud ERP, cloud enterprise performance management, cloud supply chain and manufacturing management, human capital management, Oracle Cerner healthcare solutions, and Oracle Advertising, among others.

Conclusion

As the market dynamics continuously evolve, recent changes from large institutional players like Dock Street and the responses from equity analysts indicate a strong interest in Oracle as a key player in the tech and software space. With a solid performance record and ambitious growth strategies, Oracle remains an integral part of many investment portfolios.

Oracle, Investments, Funds