Insider Selling: 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 stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $18.52, for a total transaction of $822,288.00. Following the completion of the transaction, the chief executive officer directly owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $18.88, for a total value of $483,328.00.

Opera Stock Up 0.5%

Shares of OPRA traded up $0.10 on Monday, reaching $18.62. The stock had a trading volume of 461,247 shares, compared to its average volume of 590,373. The firm has a market capitalization of $1.67 billion, a PE ratio of 14.78 and a beta of 1.30. The firm has a 50-day moving average of $17.74 and a 200 day moving average of $15.29. Opera Limited Sponsored ADR has a twelve month low of $11.71 and a twelve month high of $21.06.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.30 earnings per share for the quarter. The firm 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%. On average, sell-side analysts anticipate that Opera Limited Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Opera Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th will be given a $0.40 dividend. The ex-dividend date is Tuesday, July 7th. This represents a dividend yield of 441.0%. Opera’s dividend payout ratio (DPR) is currently 61.90%.

Analyst Ratings Changes

Several research firms have recently issued reports on OPRA. Wall Street Zen raised Opera from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Finally, TD Cowen reaffirmed 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in 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 in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Opera by 35.3% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock worth $416,000 after purchasing an additional 7,607 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Opera during the first quarter worth about $141,000. Harvey Capital Management Inc. raised its position in shares of Opera by 0.9% in the fourth 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 last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Opera by 305.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock valued at $1,289,000 after buying an additional 68,549 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.