Nokia Oyj (NYSE:NOK) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its holdings in shares of Nokia Oyj (NYSE:NOK) by 69.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,107 shares of the technology company’s stock after selling 2,523,172 shares during the period. Penserra Capital Management LLC’s holdings in Nokia Oyj were worth $4,794,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its stake in shares of Nokia Oyj by 111.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,738 shares of the technology company’s stock valued at $95,000 after buying an additional 14,122 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Nokia Oyj by 62.3% during the 1st quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company’s stock worth $63,000 after purchasing an additional 6,768 shares during the period. Advisors Asset Management Inc. grew its position in shares of Nokia Oyj by 35.6% in the first quarter. Advisors Asset Management Inc. now owns 158,795 shares of the technology company’s stock valued at $562,000 after purchasing an additional 41,691 shares during the period. SVB Wealth LLC acquired a new position in Nokia Oyj in the first quarter valued at $57,000. Finally, Tidal Investments LLC lifted its position in Nokia Oyj by 111.0% during the first quarter. Tidal Investments LLC now owns 39,635 shares of the technology company’s stock worth $140,000 after buying an additional 20,849 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Northland Securities restated an “outperform” rating and issued a $6.50 price target on shares of Nokia Oyj in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a report on Monday, October 21st. Danske raised shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, StockNews.com downgraded Nokia Oyj from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.56.

Nokia Oyj Stock Performance

Shares of NOK stock opened at $4.18 on Monday. The company’s fifty day simple moving average is $4.47 and its 200-day simple moving average is $4.12. The company has a current ratio of 1.72, a quick ratio of 1.46 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52 week low of $2.94 and a 52 week high of $4.95. The company has a market cap of $22.79 billion, a PE ratio of 52.25, a P/E/G ratio of 5.41 and a beta of 1.12.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Nokia Oyj had a return on equity of 8.32% and a net margin of 2.18%. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $5.10 billion. As a group, equities research analysts anticipate that Nokia Oyj will post 0.34 EPS for the current year.

Nokia Oyj Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.