Oracle Corporation (ORCL)

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Oracle director sells shares amid insider selling trend
By: Investing | November 14, 2023

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.

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