Strong Sales Pushed Oracle Corporation (ORCL)’s Performance in Q4
Ariel Investments, an investment management company, released its “Ariel Focus Fund” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 11.95%, compared to a 12.42% return for the Russell 1000 Value Index and a 7.56% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Focus Fund highlighted stocks Oracle Corporation (NYSE:ORCL) in the Q4 2022 investor letter. Headquartered in Austin, Texas, Oracle Corporation (NYSE:ORCL) offers software products and services worldwide. On February 2, 2023, Oracle Corporation (NYSE:ORCL) stock closed at $89.38 per share. One-month return of Oracle Corporation (NYSE:ORCL) was 4.34%, and its shares gained 8.85% of their value over the last 52 weeks. Oracle Corporation (NYSE:ORCL) has a market capitalization of $240.991 billion.
Ariel Focus Fund made the following comment about Oracle Corporation (NYSE:ORCL) in its Q4 2022 investor letter:
"Additionally, global leader in enterprise software, Oracle Corporation (NYSE:ORCL) delivered quarterly earnings results exceeding the high end of management guidance despite Fx headwinds. Revenue growth was attributed to strong sales momentum across licensing, cloud infrastructure and SaaS applications. We believe these results highlight ORCL’s ability to effectively cross-sell and upsell apps and infrastructure, as well as the emergence of the company’s cloud platform as a competitive offering."
Oracle Corporation (NYSE:ORCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the third quarter which was 69 in the previous quarter.
We discussed Oracle Corporation (NYSE:ORCL) in another article and shared Oakmark Funds' views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.