{"id":26774,"date":"2023-06-23T23:34:26","date_gmt":"2023-06-24T03:34:26","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/larry-ellison-sells-oracle-stock-for-the-first-time-in-2-years\/"},"modified":"2023-06-23T23:34:28","modified_gmt":"2023-06-24T03:34:28","slug":"larry-ellison-sells-oracle-stock-for-the-first-time-in-2-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26774","title":{"rendered":"Larry Ellison Sells Oracle Stock for the First Time in 2 Years"},"content":{"rendered":"
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\n Larry Ellison
\n sold
\n Oracle
\n stock for the first time in more than two years.<\/p>\n

Oracle\u2019s (ticker: ORCL) founder and current chairman, Ellison used options to acquire 5.25 million shares for $158.1 million, or $30.11 each. He then sold 5.25 million shares of the software company for $640 million, an average of $121.98 each. His Oracle ownership stands at 1.15 billion shares, according to a form he filed with the Securities and Exchange Commission. His Oracle stake remains more than 40%, making him the company\u2019s largest shareholder.<\/p>\n

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The options he exercised were set to expire July 1.<\/p>\n

Oracle didn\u2019t immediately respond to a request early Friday to make Ellison available for comment.<\/p>\n

Oracle stock has soared 48% so far this year, bolstered by a surge in cloud earnings thanks to artificial-intelligence customers.<\/p>\n

He last sold stock in May 2021. Ellison had acquired 2.25 million Oracle shares for $92 million, or $40.93 each, through options. He sold the same number of shares for $176 million, an average price of $78.37 each.<\/p>\n

Last year, in June 2022, Ellison exercised options to acquire seven million Oracle shares for $29.72 each, but he didn\u2019t sell any stock. The market price around that time was under $70, and Oracle stock was down 20% for the year at that point.<\/p>\n

Inside Scoop is a regular Barron\u2019s feature covering stock transactions by corporate executives and board members\u2014so-called insiders\u2014as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.<\/em><\/p>\n

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin<\/a>.<\/p>\n<\/p><\/div>\n<\/div>\n