Driehaus Capital Management LLC Purchases Shares of 562,099 Opera Limited (NASDAQ:OPRA)

Driehaus Capital Management LLC purchased a new stake in shares of Opera Limited (NASDAQ:OPRA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 562,099 shares of the company's stock, valued at approximately $10,646,000. Driehaus Capital Management LLC owned approximately 0.64% of Opera at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OPRA. Marshall Wace LLP boosted its holdings in shares of Opera by 99.7% in the 4th quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock valued at $27,656,000 after acquiring an additional 729,001 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Opera by 7.0% during the fourth 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 in the last quarter. Portolan Capital Management LLC boosted its holdings in Opera by 5.1% during the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company's stock worth $14,174,000 after buying an additional 36,529 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Opera during the fourth quarter worth $7,535,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Opera by 24.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 257,024 shares of the company's stock worth $4,868,000 after buying an additional 51,245 shares in the last quarter. Institutional investors and hedge funds own 10.21% of the company's stock.

Opera Trading Down 1.3%

Opera stock traded down $0.24 during trading on Thursday, hitting $18.29. The company had a trading volume of 206,836 shares, compared to its average volume of 566,024. Opera Limited has a 1-year low of $10.11 and a 1-year high of $22.50. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company's 50 day simple moving average is $16.36 and its 200-day simple moving average is $18.04. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 9.28 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Opera had a net margin of 39.22% and a return on equity of 19.22%. The firm had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. During the same quarter last year, the firm earned $0.34 EPS. As a group, analysts expect that Opera Limited will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OPRA. Piper Sandler began coverage on shares of Opera in a research report on Wednesday, February 5th. They set an "overweight" rating and a $25.00 price objective for the company. Lake Street Capital upped their price objective on shares of Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group reduced their price objective on shares of Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $24.90.

Opera Company 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.