Opera Limited (NASDAQ:OPRA) Stake Lessened by Caxton Associates LP

Caxton Associates LP cut its position in shares of Opera Limited (NASDAQ:OPRA - Free Report) by 66.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,915 shares of the company's stock after selling 33,777 shares during the quarter. Caxton Associates LP's holdings in Opera were worth $320,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in shares of Opera by 99.7% during the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock worth $27,656,000 after purchasing an additional 729,001 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Opera during the 4th quarter worth approximately $7,535,000. Bank of New York Mellon Corp purchased a new position in Opera in the 4th quarter worth approximately $1,985,000. Raymond James Financial Inc. purchased a new stake in shares of Opera during the fourth quarter valued at approximately $1,634,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Opera by 7.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company's stock worth $17,644,000 after buying an additional 61,051 shares during the period. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OPRA has been the subject of a number of analyst reports. Lake Street Capital increased their price target on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Piper Sandler initiated coverage on shares of Opera in a research report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 target price for the company. Finally, The Goldman Sachs Group lowered their price objective on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a report on Monday, April 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $24.90.

Opera Stock Performance

OPRA stock traded down $0.18 during midday trading on Friday, reaching $16.98. The company had a trading volume of 344,102 shares, compared to its average volume of 565,631. The firm has a market capitalization of $1.50 billion, a PE ratio of 8.62 and a beta of 1.01. The stock has a 50 day moving average price of $16.32 and a 200 day moving average price of $18.00. Opera Limited has a fifty-two week low of $10.11 and a fifty-two week high of $22.50. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. Opera had a return on equity of 19.22% and a net margin of 39.22%. The firm had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. During the same period in the prior year, the business earned $0.34 EPS. Analysts anticipate that Opera Limited will post 0.81 earnings per share for the current year.

Opera Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.