ExodusPoint Capital Management LP bought a new position in shares of Nokia Co. (NYSE:NOK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,235 shares of the technology company’s stock, valued at approximately $306,000.
Several other hedge funds have also modified their holdings of NOK. Morgan Stanley raised its stake in shares of Nokia by 182.1% during the 3rd quarter. Morgan Stanley now owns 13,050,629 shares of the technology company’s stock worth $51,027,000 after buying an additional 8,424,274 shares in the last quarter. Spring Creek Capital LLC purchased a new position in Nokia in the 4th quarter valued at approximately $26,393,000. Renaissance Technologies LLC increased its stake in Nokia by 117.2% in the 4th quarter. Renaissance Technologies LLC now owns 7,688,612 shares of the technology company’s stock valued at $30,062,000 after purchasing an additional 4,149,027 shares in the last quarter. Penserra Capital Management LLC increased its stake in Nokia by 94.7% in the 4th quarter. Penserra Capital Management LLC now owns 6,874,171 shares of the technology company’s stock valued at $26,878,000 after purchasing an additional 3,342,759 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Nokia in the 1st quarter valued at approximately $9,420,000. 4.21% of the stock is owned by institutional investors and hedge funds.
NOK has been the subject of several research analyst reports. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nokia in a research note on Monday, December 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nokia in a research note on Friday, February 5th. DZ Bank raised Nokia from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th. DNB Markets downgraded Nokia from a “buy” rating to a “sell” rating in a research report on Thursday, January 28th. Finally, Barclays reissued an “equal weight” rating on shares of Nokia in a research report on Thursday, March 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $5.50.
Nokia (NYSE:NOK) last posted its quarterly earnings data on Wednesday, February 3rd. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Nokia had a return on equity of 9.34% and a net margin of 3.31%. The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, analysts anticipate that Nokia Co. will post 0.26 earnings per share for the current fiscal year.
Nokia Corporation provides mobile and fixed network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It focuses on mobile radio including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises; and provides network planning and optimization, network implementation, and systems integration, as well as company-wide managed services.
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