Oracle Stock at Risk as Larry Ellison Files to Dump $7.5 Billion in Shares
Oracle (NYSE: ORCL ) stock retreated as investors reacted to its quarterly earnings and after Larry Ellison filed to dump shares worth about $7.5 billion. It ended the week at $150, down by 11% from its highest point this week. This retreat continued on Hyperliquid, the leading perpetual futures platform. Oracle stock chart | Source: TradingView Larry Ellison to Dump Oracle Shares Worth $7.5 Billion Ellison, who started the company in 1977, plans to sell shares worth about $7.5 billion by the end of next month. This is notable since the stock has plunged by 56% from its highest point last year, while his net worth has dropped by over $43 billion this year to $204 billion. The filing came a few months after he pledged to personally backstop the $40 billion financing that David Ellison made during his hostile takeover of Warner Bros Discovery. At the same time, he has pledged 346 million shares of Oracle as collateral to secure personal loans. Read Also: FOMC Interest Rate Preview: Can the Fed Calm Surging Bond Yields? The filing came after the company published strong financial results, which showed that its artificial intelligence (AI) business continued doing well. Its revenue jum
5 billion. It ended the week at $150, down by 11% from its highest point this week. This retreat continued on Hyperliquid, the leading perpetual futures platform. 5 billion by the end of next month.
This is notable since the stock has plunged by 56% from its highest point last year, while his net worth has dropped by over $43 billion this year to $204 billion. The filing came a few months after he pledged to personally backstop the $40 billion financing that David Ellison made during his hostile takeover of Warner Bros Discovery. At the same time, he has pledged 346 million shares of Oracle as collateral to secure personal loans. Read Also: FOMC Interest Rate Preview: Can the Fed Calm Surging Bond Yields?
The filing came after the company published strong financial results, which showed that its artificial intelligence (AI) business continued doing well. 4 billion. 2 billion, while its remaining performance obligations (RPO) rose by $30 billion to $664 billion. There are now signs that the RPO is starting to convert, with the company delivering over 300,000 GPUs to its AI cloud customers.
Analysts are Bullish on Oracle Stock Most analysts who commented on the company after its earnings boosted their estimates. Karl Keirstead, a UBS analyst, hiked his target from $245 to $250, while Barclays’ Raimo Lenschow hiked from $250 to $252. KeyCorp boosted to $285, while DA Davidson’s Gil Luria hiked to $225. Analysts note that the company’s revenue growth is continuing and that it is starting to benefit from its large AI orderbook.
1. The technology sector has a forward PE ratio of 22. Additionally, there are signs that its revenue growth will continue. 3 billion in the next quarter.
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