Insider Selling: Opera (NASDAQ:OPRA) CEO Sells 44,400 Shares of Stock

Opera Limited Sponsored ADR (NASDAQ:OPRA) CEO Lin Song sold 44,400 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $18.52, for a total value of $822,288.00. Following the completion of the sale, the chief executive officer directly owned 120,846 shares of the company’s stock, valued at $2,238,067.92. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

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

Opera Stock Up 0.5%

NASDAQ:OPRA traded up $0.10 during mid-day trading on Monday, reaching $18.62. 461,247 shares of the stock were exchanged, compared to its average volume of 590,373. The stock has a market capitalization of $1.67 billion, a P/E ratio of 14.78 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. The company has a 50 day simple moving average of $17.74 and a 200-day simple moving average of $15.29.

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

Opera Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th will be given 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 dividend payout ratio (DPR) is presently 61.90%.

Hedge Funds Weigh In On Opera

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harvey Capital Management Inc. lifted its holdings in shares of Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock valued at $1,429,000 after buying an additional 925 shares during the period. Janney Montgomery Scott LLC grew its holdings in Opera by 305.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after acquiring an additional 68,549 shares during the period. Caxton Associates LLP acquired a new position in Opera during the first quarter worth $270,000. State of Tennessee Department of Treasury purchased a new position in Opera in the second quarter worth $83,000. Finally, Parallel Advisors LLC raised its position in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after acquiring an additional 2,495 shares in the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OPRA shares. Wall Street Zen raised Opera from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Zacks Research downgraded Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating on shares of Opera in a report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Opera Company Profile

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.