Cubist Systematic Strategies LLC Boosts Position in Opera Limited (NASDAQ:OPRA)

Cubist Systematic Strategies LLC boosted its position in Opera Limited (NASDAQ:OPRA) by 24.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,024 shares of the company’s stock after purchasing an additional 51,245 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Opera were worth $4,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of OPRA. Marshall Wace LLP raised its position in shares of Opera by 99.7% in the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock worth $27,656,000 after buying an additional 729,001 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Opera by 7.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock valued at $17,644,000 after acquiring an additional 61,051 shares during the last quarter. Portolan Capital Management LLC grew its holdings in shares of 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 purchasing an additional 36,529 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Opera in the fourth quarter worth approximately $7,535,000. Finally, American Trust Investment Advisors LLC raised its stake in Opera by 1.6% in the fourth quarter. American Trust Investment Advisors LLC now owns 179,877 shares of the company’s stock valued at $3,407,000 after purchasing an additional 2,780 shares in the last quarter. 10.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Opera Stock Performance

Opera stock opened at $16.98 on Friday. The firm has a fifty day simple moving average of $16.32 and a two-hundred day simple moving average of $17.99. 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 Limited has a twelve month low of $10.11 and a twelve month high of $22.50. The company has a market capitalization of $1.50 billion, a PE ratio of 8.62 and a beta of 1.01.

Opera (NASDAQ:OPRA) last posted its quarterly earnings results 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 analyst estimates of $132.48 million. During the same period last year, the company earned $0.34 EPS. Research analysts expect that Opera Limited will post 0.81 EPS for the current year.

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.