Point72 Asset Management L.P. Grows Stake in Opera Limited (NASDAQ:OPRA)

Point72 Asset Management L.P. boosted its position in shares of Opera Limited (NASDAQ:OPRA) by 176.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,000 shares of the company’s stock after purchasing an additional 101,500 shares during the quarter. Point72 Asset Management L.P.’s holdings in Opera were worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its holdings in Opera by 2.8% during the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after purchasing an additional 600 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Opera by 74.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after acquiring an additional 674 shares during the period. Signaturefd LLC increased its holdings in shares of Opera by 26.5% in the 4th quarter. Signaturefd LLC now owns 5,406 shares of the company’s stock valued at $102,000 after acquiring an additional 1,134 shares during the period. US Bancorp DE increased its holdings 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 period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Opera by 229.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock valued at $42,000 after acquiring an additional 1,548 shares during the period. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Stock Up 1.0%

Opera stock opened at $18.41 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.35 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 business has a fifty day moving average price of $16.43 and a 200-day moving average price of $18.04.

Opera (NASDAQ:OPRA) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.27 earnings per share 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 analysts’ expectations of $132.48 million. During the same quarter last year, the firm earned $0.34 EPS. Equities research analysts forecast that Opera Limited will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OPRA shares. Piper Sandler started coverage on Opera in a report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price target on the stock. Lake Street Capital lifted 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. Finally, The Goldman Sachs Group cut their price target on Opera from $26.00 to $22.50 and set a “buy” rating on the stock in a report on Monday, April 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $24.90.

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.