235,883 Shares of Nokia Corporation $NOK Bought by Jackson Square Capital LLC

Key Points

• Jackson Square Capital acquired 235,883 Nokia shares worth approximately $2.39 million in the third quarter, while other institutional investors—including ARGA Investment Management and Renaissance Technologies—also increased their positions. Institutional investors collectively own 5.28% of Nokia.
• Nokia stock rose 0.7% to $9.21, but remained below its 50-day and 200-day moving averages. The company reported quarterly EPS of $0.08, exceeding analyst expectations, while revenue increased 8.4% year over year to $5.50 billion but fell short of forecasts.
• Analyst sentiment is broadly positive, with Nokia receiving a “Moderate Buy” consensus rating and an average price target of $13.57, compared with its recent trading price.

Jackson Square Capital LLC purchased a new stake in Nokia Corporation (NYSE:NOK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 235,883 shares of the technology company's stock, valued at approximately $2,392,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ARGA Investment Management LP lifted its holdings 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 valued at $163,921,000 after acquiring an additional 12,734,021 shares during the last quarter. Renaissance Technologies LLC increased its stake in Nokia by 131.3% during the first quarter. Renaissance Technologies LLC now owns 13,294,780 shares of the technology company's stock worth $106,890,000 after acquiring an additional 7,546,000 shares during the last quarter. Annex Advisory Services LLC increased its stake in 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 acquiring an additional 4,221,629 shares during the last quarter. Atwood & Palmer Inc. raised its position in Nokia by 0.5% in the third quarter. Atwood & Palmer Inc. now owns 2,470,183 shares of the technology company's stock valued at $25,048,000 after purchasing an additional 12,888 shares during the period. Finally, Engineers Gate Manager LP raised its position in Nokia by 19.2% in the second quarter. Engineers Gate Manager LP now owns 1,864,080 shares of the technology company's stock valued at $24,755,000 after purchasing an additional 300,807 shares during the period. Institutional investors and hedge funds own 5.28% of the company's stock.

Nokia Stock Up 0.7%

NOK stock traded up $0.07 during mid-day trading on Monday, reaching $9.21. The company had a trading volume of 30,232,605 shares, compared to its average volume of 80,488,883. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50. The company has a market capitalization of $52.86 billion, a price-to-earnings ratio of 65.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.19. The firm has a fifty day simple moving average of $10.24 and a 200 day simple moving average of $11.45. Nokia Corporation has a fifty-two week low of $5.45 and a fifty-two week high of $17.45.

Nokia (NYSE:NOK - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Nokia had a return on equity of 9.83% and a net margin of 3.49%. The business had revenue of $5.50 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter last year, the business posted $0.04 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Nokia Corporation will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Nokia in a report on Friday, September 4th. B. Riley Financial started coverage on Nokia in a research report on Thursday, September 17th. They set a "buy" rating and a $15.00 price objective for the company. Jefferies Financial Group restated a "buy" rating on shares of Nokia in a report on Tuesday, September 29th. Sanford C. Bernstein reaffirmed a "neutral" rating on shares of Nokia in a research report on Thursday, July 23rd. Finally, Danske raised shares of Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Nokia has an average rating of "Moderate Buy" and an average target price of $13.57.

Nokia Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.