Point72 Asset Management L.P. Raises Stock Holdings in Opera Limited (NASDAQ:OPRA)

Point72 Asset Management L.P. boosted its position in Opera Limited (NASDAQ:OPRA - Free Report) by 176.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,000 shares of the company's stock after buying an additional 101,500 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.18% of Opera worth $3,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted its stake in shares of Opera by 2,065.1% in the 4th quarter. US Bancorp DE now owns 1,364 shares of the company's stock valued at $26,000 after acquiring an additional 1,301 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after buying an additional 674 shares during the period. Tower Research Capital LLC TRC grew its holdings in Opera by 229.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company's stock worth $42,000 after acquiring an additional 1,548 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of Opera by 457.1% in the fourth quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company's stock valued at $74,000 after acquiring an additional 3,200 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Opera during the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 10.21% of the company's stock.

Opera Price Performance

OPRA stock traded down $0.47 during midday trading on Monday, hitting $17.37. The company's stock had a trading volume of 260,703 shares, compared to its average volume of 566,851. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 8.82 and a beta of 1.01. The company has a 50 day moving average of $16.43 and a two-hundred day moving average of $18.04. Opera Limited has a 12 month low of $10.11 and a 12 month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. Opera had a return on equity of 19.22% and a net margin of 39.22%. The business had revenue of $142.72 million for the quarter, compared to analysts' expectations of $132.48 million. During the same period in the prior year, the firm earned $0.34 EPS. On average, analysts expect that Opera Limited will post 0.81 EPS for the current year.

Analysts Set New Price Targets

OPRA has been the subject of several research analyst reports. The Goldman Sachs Group dropped 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. Piper Sandler started coverage on shares of Opera in a report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 price objective for the company. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Lake Street Capital increased their target price on Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $24.90.

About Opera

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.