Portolan Capital Management LLC Purchases 276,356 Shares of Opera Limited (NASDAQ:OPRA)

Portolan Capital Management LLC boosted its position in Opera Limited (NASDAQ:OPRA) by 63.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 711,820 shares of the company’s stock after acquiring an additional 276,356 shares during the quarter. Portolan Capital Management LLC owned 0.80% of Opera worth $10,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Opera by 44.0% in the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after acquiring an additional 84,001 shares during the last quarter. Harvey Capital Management Inc. purchased a new stake in Opera during the third quarter valued at about $2,420,000. Hennion & Walsh Asset Management Inc. boosted its position in Opera by 5.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock valued at $1,360,000 after buying an additional 4,274 shares during the period. Penn Mutual Asset Management purchased a new stake in Opera during the third quarter valued at about $952,000. Finally, Inspire Investing LLC boosted its position in Opera by 2.7% during the third quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after buying an additional 1,539 shares during the period. Institutional investors own 10.21% of the company’s stock.

Opera Stock Performance

Opera stock opened at $20.07 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $17.14 and a 200-day moving average of $14.85. The firm has a market cap of $1.78 billion, a P/E ratio of 10.19 and a beta of 1.03. Opera Limited has a 1-year low of $10.11 and a 1-year high of $20.70.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen upped their price target on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. B. Riley restated a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Opera in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Lake Street Capital upped their price target on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.75.

Opera Company 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.