76,262 Nokia Corporation $NOK Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in Nokia Corporation (NYSE:NOK) by 55.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,407 shares of the technology company’s stock after selling 76,262 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nokia were worth $633,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jackson Square Capital LLC acquired a new position in Nokia in the 3rd quarter valued at approximately $2,392,000. SummitTX Capital L.P. raised its stake in shares of Nokia by 219.4% during the first quarter. SummitTX Capital L.P. now owns 245,559 shares of the technology company’s stock valued at $1,974,000 after acquiring an additional 168,688 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Nokia during the first quarter worth $9,634,000. Amundi acquired a new position in shares of Nokia during the first quarter worth $1,120,000. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of Nokia during the third quarter worth $1,359,000. Institutional investors own 5.28% of the company’s stock.

Nokia Trading Down 2.8%

NOK opened at $8.24 on Thursday. Nokia Corporation has a twelve month low of $5.86 and a twelve month high of $17.45. The company has a quick ratio of 1.19, a current ratio of 1.47 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $9.86 and a 200-day moving average of $10.26. The stock has a market cap of $47.33 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, October 22nd. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. Nokia had a net margin of 3.80% and a return on equity of 10.48%. Nokia’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. On average, sell-side analysts predict that Nokia Corporation will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on NOK shares. Weiss Ratings reissued a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. JPMorgan Chase & Co. lowered their target price on Nokia from $21.00 to $20.50 and set an “overweight” rating for the company in a research report on Friday, October 23rd. S&P Equity Research reaffirmed a “positive” rating on shares of Nokia in a report on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Nokia in a research report on Friday, October 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nokia in a research note on Tuesday, September 29th. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.41.

About Nokia

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.