Opera (NASDAQ:OPRA) CEO Sells $822,288.00 in Stock

Opera Limited Sponsored ADR (NASDAQ:OPRA) CEO Lin Song sold 44,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $18.52, for a total transaction of $822,288.00. Following the transaction, the chief executive officer owned 120,846 shares in the company, valued at $2,238,067.92. This represents a 26.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lin Song also recently made the following trade(s):

• On Wednesday, June 17th, Lin Song sold 25,600 shares of Opera stock. The stock was sold at an average price of $18.88, for a total value of $483,328.00.

Opera Price Performance

OPRA opened at $18.29 on Thursday. The business has a 50 day moving average price of $17.94 and a two-hundred day moving average price of $15.40. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.52 and a beta of 1.30. Opera Limited Sponsored ADR has a 1-year low of $11.71 and a 1-year high of $21.06.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.30 earnings per share (EPS) for the quarter. Opera had a return on equity of 8.54% and a net margin of 17.72%.The company had revenue of $176.65 million for the quarter. Equities analysts expect that Opera Limited Sponsored ADR will post 1.12 EPS for the current fiscal year.

Opera Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, July 7th will be issued a dividend of $0.40 per share. This represents a yield of 441.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Opera’s payout ratio is presently 61.90%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OPRA. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a report on Friday, March 27th. Zacks Research cut shares of Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating on shares of Opera in a report on Friday, March 13th. Finally, Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Opera presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Hedge Funds Weigh In On Opera

Hedge funds have recently modified their holdings of the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Opera during the third quarter valued at $42,000. Parallel Advisors LLC boosted its position in shares of Opera by 459.5% in the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock valued at $43,000 after purchasing an additional 2,495 shares during the period. Huntington National Bank boosted its position in shares of Opera by 37.8% in the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after purchasing an additional 906 shares during the period. State of Tennessee Department of Treasury purchased a new position in Opera in the 2nd quarter worth about $83,000. Finally, Ascentis Independent Advisors purchased a new position in Opera in the 1st quarter worth about $141,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.