Prosperitas Financial LLC Makes New $2.93 Million Investment in Nokia Corporation $NOK

Prosperitas Financial LLC purchased a new stake in Nokia Corporation (NYSE:NOK) during the third quarter, according to its most recent filing with the SEC. The firm purchased 288,690 shares of the technology company’s stock, valued at approximately $2,927,000.

Other institutional investors have also modified their holdings of the company. ARGA Investment Management LP raised its stake in shares of Nokia by 166.4% during the 1st quarter. ARGA Investment Management LP now owns 20,388,202 shares of the technology company’s stock worth $163,921,000 after acquiring an additional 12,734,021 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Nokia by 131.3% in the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock valued at $106,890,000 after acquiring an additional 7,546,000 shares in the last quarter. Annex Advisory Services LLC increased its position in shares of Nokia by 1,710.9% during the third quarter. Annex Advisory Services LLC now owns 4,468,371 shares of the technology company’s stock worth $45,309,000 after purchasing an additional 4,221,629 shares in the last quarter. Troluce Capital Advisors LLC purchased a new stake in Nokia in the first quarter valued at about $20,100,000. Finally, Atreides Management LP purchased a new stake in Nokia in the first quarter valued at about $19,955,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Stock Down 8.6%

Shares of NOK stock opened at $8.51 on Friday. Nokia Corporation has a fifty-two week low of $5.86 and a fifty-two week high of $17.45. The firm has a market capitalization of $48.87 billion, a PE ratio of 53.19, a P/E/G ratio of 1.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47. The stock’s 50-day simple moving average is $9.97 and its 200-day simple moving average is $10.24.

Nokia (NYSE:NOK) last released its earnings results on Thursday, October 22nd. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Nokia had a return on equity of 10.48% and a net margin of 3.80%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities analysts expect that Nokia Corporation will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nokia from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. B. Riley Financial assumed coverage on shares of Nokia in a research note on Thursday, September 17th. They issued a “buy” rating and a $15.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research report on Monday, July 27th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nokia in a research note on Tuesday, September 29th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.41.

Nokia Profile

Nokia Oyj is a Finland-based technology company that provides communications networking equipment, software and related services to telecommunications operators, enterprises, governments and other organizations worldwide. Its offerings support fixed and mobile broadband, optical and IP networks, data centers, cloud environments and private wireless communications.

The company’s business activities include mobile network infrastructure, network automation and management software, fiber and broadband access, optical networking, routing, data-center networking, and cloud and network services.