Voloridge Investment Management LLC Purchases 77,875 Shares of Opera Limited (NASDAQ:OPRA)

Voloridge Investment Management LLC raised its position in Opera Limited (NASDAQ:OPRA - Free Report) by 233.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,255 shares of the company's stock after purchasing an additional 77,875 shares during the period. Voloridge Investment Management LLC owned approximately 0.13% of Opera worth $2,107,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP raised its position 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 during the period. Tidal Investments LLC raised its holdings in Opera by 75.6% during the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company's stock worth $22,284,000 after buying an additional 506,425 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company's stock valued at $17,644,000 after buying an additional 61,051 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Opera by 5.1% in the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company's stock valued at $14,174,000 after buying an additional 36,529 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Opera during the fourth quarter worth $10,646,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Opera Stock Down 1.3%

OPRA traded down $0.23 during trading hours on Monday, hitting $18.12. 447,382 shares of the company's stock were exchanged, compared to its average volume of 562,654. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 9.20 and a beta of 1.01. Opera Limited has a 1-year low of $10.11 and a 1-year high of $22.50. The stock's 50-day moving average is $16.43 and its two-hundred day moving average is $18.03. 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 results on Monday, April 28th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $142.72 million for the quarter, compared to analysts' expectations of $132.48 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same period in the previous year, the firm posted $0.34 EPS. Sell-side analysts predict that Opera Limited will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on OPRA shares. Lake Street Capital boosted their price objective on shares of Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. The Goldman Sachs Group lowered their target price on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Piper Sandler began coverage on Opera in a research report on Wednesday, February 5th. They set an "overweight" rating and a $25.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera has an average rating of "Buy" and a consensus target price 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.