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

Prosperitas Financial LLC acquired a new stake in shares of Nokia Corporation (NYSE:NOK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 288,690 shares of the technology company’s stock, valued at approximately $2,927,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARGA Investment Management LP grew its position in Nokia by 166.4% in the first 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 lifted its stake in shares of Nokia by 131.3% in the 1st quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company’s stock valued at $106,890,000 after purchasing an additional 7,546,000 shares during the last quarter. Annex Advisory Services LLC boosted its holdings in shares of Nokia by 1,710.9% in the 3rd 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 during the period. Troluce Capital Advisors LLC purchased a new position in shares of Nokia in the 1st quarter worth approximately $20,100,000. Finally, Atreides Management LP bought a new position in shares of Nokia during the 1st quarter valued at approximately $19,955,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Stock Performance

Nokia 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 company 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 50 day moving average price of $9.97 and a 200-day moving average price of $10.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.19 and a current ratio of 1.47.

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

Analyst Ratings Changes

Several analysts recently weighed in on NOK shares. Citigroup restated a “buy” rating on shares of Nokia in a report on Friday, October 23rd. Jefferies Financial Group restated a “buy” rating on shares of Nokia in a report on Tuesday, September 29th. Rosenblatt Securities dropped their price target on shares of Nokia from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. S&P Equity Research reiterated a “positive” rating on shares of Nokia in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Monday, July 27th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.