Larry Ellison Cancels Plan to Sell 50 Million ORCL Shares Worth $7.5 Billion

Oracle Corp. (NYSE:ORCL) Executive Chairman Larry Ellison canceled a plan to sell 50 million shares of company stock on Saturday, a day after disclosing the trading plan.

“No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock,” the company said in a statement.

Earlier this week, the Texas-based technology company announced its first-quarter results, which came in better than expected. It reported revenue of $19.35 billion, edging above the analyst estimate of $19.13 billion by about 1.1%.

Earnings per share came in at $1.92, beating the expected $1.67 by 15%.

Analyst Sentiment

Following the quarterly results, Wall Street firms issued mixed reactions to Oracle’s earnings.

Changed Price Targets:

Maintained Price Targets:

Beyond price targets, analysts highlighted Oracle’s remaining performance obligation, which measures contracted revenue that has not yet been recognized, as an important indicator of the company’s growth. DA Davidson analyst Gil Luria noted that the metric climbed $26 billion sequentially to reach $664 billion.

He added that RPO conversion is beginning to inflect higher as Oracle executes its capacity buildout, a sign that Oracle is beginning to convert its massive contracted-revenue backlog into recognized revenue as it expands capacity.

Trading Metrics, Technical Analysis

Oracle has a market capitalization of $432.88 billion, a 52-week high of $329.50 and a 52-week low of $114.50.

The large-cap tech stock has dropped 48.57% over the past 12 months.

With a strong Growth score of 96.41, Benzinga’s Edge Stock Rankings indicate that Oracle stock is experiencing short-term upward movement along with medium and long-term consolidation.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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