Marco Investment Trims Oracle Position 9.8%, Leaves $31.8M Stake
Marco Investment Management LLC cut its Oracle position by 9.8% in Q3, selling 12,355 shares to hold 113,192 shares worth $31.83 million, representing 2.4% of its portfolio as its 10th-largest stake. Institutional investors now own 42.44% of Oracle stock, with Norges Bank establishing a $4.28 billion position.
1. Institutional Portfolio Adjustments
In its latest 13F filing, Marco Investment Management LLC trimmed its Oracle holdings by 9.8% during the third quarter, disposing of 12,355 shares to end the period with 113,192 shares, representing its tenth largest position and 2.4% of total assets. Norges Bank initiated a new stake in Oracle valued at approximately $4.28 billion in Q2, while Jennison Associates LLC expanded its position by an extraordinary 2,062.4%, adding 8.8 million shares to reach 9.23 million shares worth $2.60 billion. Vanguard Group Inc. modestly increased its stake by 2.1%, acquiring an additional 3.35 million shares to total 164.28 million shares, and Invesco Ltd. lifted its holding by 42.1% to 8.84 million shares. Smaller advisor Laurel Wealth Advisors LLC recorded a 21,239.6% surge, boosting its Oracle allocation by 1.72 million shares to hold 1.73 million shares valued at $378 million. Collectively, institutional and hedge fund ownership stands at 42.44%.
2. Insider Selling Activity
Corporate insiders have reduced their direct stakes in Oracle over the past quarter. Director Naomi O. Seligman sold 2,223 shares on December 23 at an average of $196.61 per share, trimming her holding by 7.99% to 25,596 shares. On December 24, insider Mark Hura disposed of 15,000 shares at an average of $196.89, a 6.02% reduction, leaving him with 234,077 shares. Over the trailing 90 days, insiders have sold a total of 62,223 shares valued at $12.14 million, with insiders collectively retaining 40.90% of outstanding stock.
3. Analyst Consensus and Targets
Wall Street sentiment remains cautiously constructive. JPMorgan Chase & Co. lowered its Oracle price target from $270 to $230 and maintained a neutral rating, while Citigroup and Oppenheimer both upheld outperform and market perform ratings, respectively. JMP Securities reaffirmed its market outperform stance with a $342 target, and Goldman Sachs elevated Oracle to a strong-buy. Of the 41 analysts covering the name, three recommend strong-buy, twenty-five recommend buy, eleven hold, and two sell, yielding an average moderate-buy consensus and a mean target of $299.03.