Insider Selling

Oracle insider files Form 144 post-Nvidia deal

The image's background depicts Green Motherboard, with the blog introduction mentioning the insider filed Form 144 worth $15.03 million on top.

Oracle Corporation (ORCL: US) has been operating since its founding in 1977 in Texas, U.S.A. The company is a provider of SaaS (Software as a Service) solutions, as well as other applications that aid various businesses across sectors. The company is in the Technology sector with a current Market Capitalization of almost $210.5 billion. 

ORCL stock price rose by 23.76% in the past month, but year-to-date, the price declined by almost 11.18%.

First Form 144 in 2022

Oracle’s Chief Level Officer - Edward Screven - disclosed an intention to sell stock on October 27, 2022, via the broker, Fidelity Brokerage Services. Screven intends to sell 200,000 ORCL shares at an estimated rate of $75.15 per share. In total, this intention is worth approximately $15.03 million.

This is the first Form 144 for ORCL stock filed in 2022. In addition to several other insiders, Screven is a routine trader of Oracle’s company stock.

Earning and Partnership

On September 12, 2022, Oracle unveiled its financial results for the fiscal Q1 of 2023. All the company’s revenues rose to an estimated value of $11.4 billion. While this value is lower than the $11.8 million Oracle fetched in fiscal Q4 2022, it is still greater by 18% year-on-year. Furthermore, the company’s net income in fiscal Q1 2023 amounted to roughly $1.55 million, but this was lower year-on-year.

In October 2022, Oracle and semiconductor chips manufacturer, Nvidia Corporation (NVDA: US) announced a partnership to accelerate the adoption of AI models. Nvidia will be supplying its multiple GPUs to Oracle to add them to the company’s main offering, the Oracle Cloud Infrastructure. This partnership is the latest in a long line of developments from Oracle, including the acquisition of Cerner Corp back in June 2022. ORCL stock has also received a ‘Hold’ rating from multiple analysts, CLO Screven’s Form 144 filing may send signals in multiple directions.

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