A company insider recently sold 419,174 shares of Oracle Corporation [ORCL]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Oracle Corporation shares valued at $29,015,224 were sold by Screven Edward on Jun 29. At $69.22 per share, Screven Edward sold 419,174 shares. The insider’s holdings dropped to 2,492,613 shares worth approximately $166.38 million following the completion of this transaction.

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Also, Screven Edward sold 280,826 shares, netting a total of over 19,893,826 in proceeds. Following the sale of shares at $70.84 each, the insider now holds 2,492,613 shares.

Before that, CATZ SAFRA had sold 980,000 shares from its account. In a trade valued at $68,408,454, the Chief Executive Officer traded Oracle Corporation shares for $69.80 each. Upon closing the transaction, the insider’s holdings decreased to 980,000 shares, worth approximately $74.67 million.

As published in their initiating research note from Berenberg on September 14, 2022, Oracle Corporation [ORCL] has been a Hold and the price target has been revised to $72. This represents a 7.29% premium over Wednesday’s closing price. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid August. As of June 29, 2022, Exane BNP Paribas has increased its “Neutral” rating to a “an Outperform” for ORCL.

Analyzing ORCL’s Price Performance

On Wednesday, Oracle Corporation [NYSE: ORCL] plunged -2.00% to $66.75. The stock’s lowest price that day was $66.74, but it reached a high of $68.88 in the same session. During the last five days, there has been a drop of approximately -7.45%. Over the course of the year, Oracle Corporation shares have dropped approximately -23.46%. Shares of the company reached a 52-week high of $89.58 on 01/04/22 and a 52-week low of $63.76 on 06/13/22. A 50-day SMA is recorded $74.87, while a 200-day SMA reached $77.86. Nevertheless, trading volume fell to 6.71 million shares from 8.62 million shares the previous day.

Support And Resistance Levels for Oracle Corporation (ORCL)

According to the 24-hour chart, there is a support level at 66.03, which, if violated, would cause prices to drop to 65.32. In the upper region, resistance lies at 68.17. The next price resistance is at 69.60. RSI (Relative Strength Index) is 26.05 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.67, which suggests the price will decrease in the coming days. Percent R is at 99.92%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Oracle Corporation subject to short interest?

Stocks of Oracle Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.38 million shares to 15.44 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.06 million shares. A jump of 15.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.76 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.76.

Which companies own the most shares of Oracle Corporation (ORCL)?

According to The Vanguard Group, Inc. filings, the company currently owns 130,683,627 shares, which is about 4.90% of the total ORCL shares outstanding. The investor’s shares have appreciated by 1,514,941 from its previous 13-F filing of 129168686.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $5,753,858,481. SSgA Funds Management, Inc. reduced a -4.08% interest valued at $4.63 billion while Geode Capital Management LLC purchased a 542,690 stake. A total of -2,855 shares of Oracle Corporation were bought by First Eagle Investment Management during the quarter, and -5,770,561 were sold by Loomis, Sayles & Co. LP. In its current portfolio, Northern Trust Investments, Inc. holds 20,058,268 shares valued at $1.49 billion.


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