NEW YORK - Oracle Corporation (NYSE: NYSE:ORCL) director George N. Conrades executed a significant sale of company shares, according to a Form 4 filing with the Securities and Exchange Commission. Conrades sold 4,650 shares for a total of $524,828, with Oracle's stock trading up by 0.65% at $114.89 at the time of the transaction.
The sale took place as part of a broader pattern at Oracle, with the past year showing a trend of insider selling—13 insider sales and no reported buys. This trend is noteworthy as insider transactions can be a valuable indicator for investors. Insiders are defined by Section 12 of the Securities Exchange Act of 1934 as officers or directors who own more than ten percent of a company's equity securities, and they are required to report their transactions within two business days via a Form 4 filing.
While insider buys can suggest confidence in a company's future growth, sales do not necessarily predict an impending drop in stock price. Each transaction is detailed in Table I of the Form 4 filing, which includes specific codes that denote the nature of the trade.
Oracle is well-known for its comprehensive cloud applications, platform services, engineered systems, and database management solutions, playing a crucial role in digital transformation initiatives across businesses. At the time of Conrades' sale, Oracle shares were trading at $112.87 with a price-to-earnings (P/E) ratio that exceeded both the industry average and Oracle's own historical median. According to GuruFocus Value, this could indicate a potential slight overvaluation of Oracle stock.
Investors have access to commission-free online stock trading through platforms such as Charles Schwab (NYSE:SCHW), which allows for easier participation in the market without additional transaction costs.
This recent insider activity at Oracle has been captured by Benzinga's automated content engine and verified by an editor, ensuring that stakeholders have access to timely and relevant information about significant insider trades within the company.
InvestingPro Insights
To further enrich your understanding of Oracle Corporation, we have gathered some key insights from InvestingPro. The company has been a consistent player in terms of dividends, having raised its dividend for 10 consecutive years (InvestingPro Tip 0). However, it's worth noting that 14 analysts have revised their earnings downwards for the upcoming period (InvestingPro Tip 1).
In terms of real-time data, Oracle has a considerable market cap of 317.0B USD. Its P/E Ratio stands at 33.36, which suggests a high earnings multiple, aligning with the article's mention of a potential slight overvaluation. Furthermore, Oracle has shown impressive revenue growth, with a rate of 15.41% over the last twelve months as of Q1 2024 (InvestingPro Data).
In addition to these insights, InvestingPro offers numerous other tips and metrics for Oracle and other companies. These can be a valuable asset for any investor seeking to make informed decisions.
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