The New Oracle Corp Holding in Netsuite Inc
Oracle Corp filed with the SEC SC 13D/A form for Netsuite Inc. The form can be accessed here: 000119312516768943. As reported in Oracle Corp’s form, the filler as of late owns 100% or 13 shares of the Information Technology–company.
Netsuite Inc stake is a new one for the and it was filed because of activity on November 7, 2016. We feel this shows Oracle Corp’s positive view for the stock.
Reasons Why Oracle Corp Bought – Netsuite Inc Stock
Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended and supplemented by adding thefollowing at the end thereof:
On November 7, 2016, pursuant to the terms of the Merger Agreement, Merger Subsidiary merged with and into the Issuer, withthe Issuer surviving the Merger as a subsidiary of Oracle.
At the Effective Time, each Share issued and outstanding immediately prior to the effectivetime of the Merger was converted into the right to receive the Offer Price, without interest and subject to any required tax withholding, other than (1) Shares held by NetSuite as treasury stock, owned by Oracle, OC, Merger Subsidiary or anysubsidiary of NetSuite; and (2) Shares held by stockholders who properly exercised appraisal rights under the General Corporation Law of the State of Delaware.
At the Effective Time, the one hundred (100) shares of common stock of Merger Subsidiary that were outstanding immediately prior to the Effective Time wereconverted into and became one hundred (100) shares of common stock of the Surviving Corporation.
Upon the closing of the Merger, the Shares thatpreviously traded under the ticker symbol “N”, ceased trading on, and are being delisted from, the New York Stock Exchange.
In connection withthe merger, each member of the Board of Directors of the Issuer resigned from the Board of Directors of the Issuer, including any committee thereof.At the Effective Time, the size of the Board of Directors of the Issuer was reduced to onemember, and Brian S. Higgins was appointed as the sole member of the Board of Directors of the Issuer.
At the Effective Time, the officers of MergerSubsidiary immediately prior to the Effective Time became the officers of the Issuer following the Effective Time.
|Item5.||Interest in Securities of the Issuer|
Netsuite Inc Institutional Sentiment
Latest Security and Exchange filings show 188 investors own Netsuite Inc. The institutional ownership in Q3 2015 is high, at 48.22% of the outstanding shares. This is increased by 317384 the total institutional shares. 39287002 were the shares owned by these institutional investors. In total 23 funds opened new Netsuite Inc stakes, 77 increased stakes. There were 34 that closed positions and 60 reduced them.
2 managers had the stock in their top Ten. Notable investors are: Meritech Capital Associates Iii L.L.C., Glynn Capital Management Llc, Taube Hodson Stonex Partners Llp..
Glynn Capital Management Llc is an institutional investor bullish on Netsuite Inc, owning 195312 shares as of Q3 2015 for 5.42% of its portfolio. Meritech Capital Associates Iii Llc owns 147712 shares or 4.86% of its portfolio. OH Mai Wealth Advisors have 0.02% of their stock portfolio for 2689 shares. Further, Tocqueville Asset Management Lp reported stake worth 0.01% of its US stock portfolio. The PA Aris Wealth Services Inc owns 27 shares. Netsuite Inc is less than 0.01% of the manager’s US portfolio.
NetSuite Inc. (NetSuite) is a provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites. The Company offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business operations in an integrated suite. The Company also offers customer support and professional services related to the support and implementation of its suite of applications. The Company delivers its applications over the Internet as a subscription service using the software-as-a-service model. The Company’s offerings include NetSuite, NetSuite OneWorld, NetSuite CRM+, NetSuite OpenAir PSA, SuiteCommerce, Bronto Marketing Platform, NetSuite InStore POS, LightCMS, Add-On Modules, NetSuite Industry Editions and SuiteCloud Platform.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.15, from 1.51 in 2016Q1. The ratio improved, as 18 funds sold all NetSuite Inc shares owned while 52 reduced positions. 40 funds bought stakes while 76 increased positions. They now own 43.78 million shares or 7.04% less from 47.10 million shares in 2016Q1.
Principal Fin Group Inc reported 8,707 shares or 0% of all its holdings. Putnam Invs Lc has 143,581 shares for 0.03% of their US portfolio. Cubist Systematic Strategies Ltd Liability Corp last reported 18,278 shares in the company. First Trust Advsrs Ltd Partnership has 0.18% invested in the company for 794,402 shares. Moreover, Fmr Ltd Limited Liability Company has 0.02% invested in NetSuite Inc (NYSE:N) for 1.66M shares. Ubs Asset Management Americas Inc has 0.01% invested in the company for 91,587 shares. Archford Capital Strategies Ltd holds 200 shares or 0.01% of its portfolio. Checchi Advisers Ltd Liability accumulated 0% or 513 shares. Moreover, Morgan Stanley has 0.01% invested in NetSuite Inc (NYSE:N) for 498,213 shares. Tower Capital Ltd Liability Co (Trc) accumulated 0% or 245 shares. Fortaleza Asset Management last reported 40 shares in the company. Rhumbline Advisers holds 0.01% of its portfolio in NetSuite Inc (NYSE:N) for 43,530 shares. Ladenburg Thalmann Fincl Ser holds 0% of its portfolio in NetSuite Inc (NYSE:N) for 497 shares. Pnc Gru Inc reported 213 shares or 0% of all its holdings. Affinity Wealth Management holds 5,749 shares or 0.28% of its portfolio.
The stock closed at $90.34 during the last session. It is down 24.64% since April 13, 2016 and is uptrending. It has outperformed by 20.71% the S&P500.
NetSuite Inc. is a provider of cloud financials, enterprise resource planning and omnichannel commerce software suites. The company has a market cap of $7.29 billion. The Firm offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business in an integrated suite. It currently has negative earnings. The Firm also offers customer support and professional services related to the support and implementation of its suite of applications.
NetSuite Inc (NYSE:N) Ratings Coverage
Out of 26 analysts covering NetSuite (NYSE:N), 4 rate it a “Buy”, 2 “Sell”, while 20 “Hold”. This means 15% are positive. $109 is the highest target while $68 is the lowest. The $91.30 average target is 1.06% above today’s ($90.34) stock price. NetSuite has been the topic of 51 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Piper Jaffray reinitiated the stock with “Neutral” rating in Friday, April 1 report. Morgan Stanley upgraded NetSuite Inc (NYSE:N) on Friday, July 29 to “Equal-Weight” rating. The rating was downgraded by Raymond James on Friday, September 4 to “Underperform”. The rating was maintained by BMO Capital Markets with “Market Perform” on Friday, July 29. BMO Capital Markets initiated it with “Market Perform” rating and $90 target price in Wednesday, June 15 report. The stock has “Neutral” rating given by Suntrust Robinson on Wednesday, May 18. The rating was maintained by Mizuho on Friday, October 23 with “Neutral”. The firm earned “Underperform” rating on Tuesday, January 26 by Bank of America. The rating was initiated by BTIG Research with “Neutral” on Thursday, September 10. The company was downgraded on Friday, July 29 by JP Morgan.
More news for NetSuite Inc (NYSE:N) were recently published by: Prnewswire.com, which released: “NetSuite Appoints Sam Levy As Vice President Of Sales Americas” on October 25, 2016. Seekingalpha.com‘s article titled: “The Battle For NetSuite Enters Its Final Stage” and published on November 02, 2016 is yet another important article.
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