Penserra Capital Management LLC Acquires 1,916,098 Shares of Nokia Corporation $NOK

Penserra Capital Management LLC grew its holdings in shares of Nokia Corporation (NYSE:NOK) by 51.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,623,955 shares of the technology company’s stock after purchasing an additional 1,916,098 shares during the period. Penserra Capital Management LLC owned about 0.10% of Nokia worth $29,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Nokia by 17.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 267,219 shares of the technology company’s stock worth $1,408,000 after acquiring an additional 39,441 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Nokia by 17.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 25,438 shares of the technology company’s stock worth $134,000 after purchasing an additional 3,826 shares in the last quarter. Allworth Financial LP increased its position in shares of Nokia by 16.0% in the first quarter. Allworth Financial LP now owns 16,308 shares of the technology company’s stock worth $79,000 after purchasing an additional 2,248 shares during the period. Cerity Partners LLC raised its stake in Nokia by 128.9% in the first quarter. Cerity Partners LLC now owns 284,784 shares of the technology company’s stock valued at $1,501,000 after purchasing an additional 160,386 shares in the last quarter. Finally, Genus Capital Management Inc. bought a new stake in Nokia during the first quarter worth about $68,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Nokia Price Performance

NOK stock opened at $6.85 on Friday. The company has a market capitalization of $36.83 billion, a P/E ratio of 38.03 and a beta of 0.84. The company has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $8.19.

Nokia (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. Nokia’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, equities analysts expect that Nokia Corporation will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on NOK shares. Northland Securities set a $7.50 target price on shares of Nokia in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nokia in a research note on Wednesday, October 15th. BNP Paribas upgraded Nokia from a “hold” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. lifted their price target on Nokia from $6.00 to $7.10 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, BNP Paribas Exane upgraded Nokia from a “neutral” rating to an “outperform” rating and set a $5.00 price objective for the company in a research report on Wednesday, September 3rd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.87.

About Nokia

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.