Oracle Corporation (ORCL) Reports Mixed Results and Smart Money Saw That Coming

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With this in mind, let’s look at what hedge funds think of Oracle Corporation (NYSE:ORCL). The popularity of the company among the funds we track was marginally down during the second quarter, and 58 investors held long positions that amassed around 4.50% of Oracle’s outstanding stock at the end of June, down from 59 at the end of March. Moreover, the aggregate value of hedge funds’ holdings in the company fell by 10.56% to $7.78 billion, amid a 6.3% decline of the stock during the second quarter. At the end of June, Boykin Curry‘s Eagle Capital Management was the largest shareholder of the company among the funds we cover, followed by First Eagle Investment Management; both investors held 42.24 million and 38.11 million shares of Oracle Corporation (NYSE:ORCL), respectively.

While hedge funds are not very thrilled about Oracle Corporation (NYSE:ORCL)’s prospects, several on the Street are. Yesterday, SunTrust upgraded the stock to ‘Buy’ from ‘Neutral’ and raised its price target to $48 from $37.99 and, on September 14, Jefferies Group reiterated its ‘Buy’ rating and set a price target of $50 on the stock. Considering this scenario, we don’t expect Oracle Corporation (NYSE:ORCL) to undergo a major correction in the near future, but, at the same time, we also don’t expect the stock to move up significantly anytime soon.

Disclosure: None

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