73,831 Shares in Nokia Corporation $NOK Bought by J2 Capital Management Inc

Key Points

• J2 Capital Management Inc acquired 73,831 shares of Nokia Corporation, valued at approximately $382,000, during the second quarter.
• Goldman Sachs Group Inc. increased its stake in Nokia by 8.7%, now owning over 12.5 million shares worth approximately $66.1 million.
• BNP Paribas upgraded Nokia from a "hold" to an "outperform" rating with a target price of $5.00, amidst a consensus average rating of "Moderate Buy" for the stock.

J2 Capital Management Inc purchased a new stake in Nokia Corporation (NYSE:NOK - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 73,831 shares of the technology company's stock, valued at approximately $382,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Nokia by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 12,550,274 shares of the technology company's stock worth $66,140,000 after acquiring an additional 1,002,033 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Nokia during the first quarter worth $45,207,000. Deutsche Bank AG lifted its stake in shares of Nokia by 129.4% during the first quarter. Deutsche Bank AG now owns 8,572,860 shares of the technology company's stock worth $45,179,000 after buying an additional 4,835,005 shares during the period. Northern Trust Corp lifted its stake in shares of Nokia by 6.2% during the first quarter. Northern Trust Corp now owns 3,903,825 shares of the technology company's stock worth $20,573,000 after buying an additional 228,030 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in shares of Nokia by 41.0% during the first quarter. Penserra Capital Management LLC now owns 3,707,857 shares of the technology company's stock worth $19,540,000 after buying an additional 1,078,476 shares during the period. 5.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOK. BNP Paribas upgraded shares of Nokia from a "hold" rating to an "outperform" rating and set a $5.00 price objective for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. decreased their target price on shares of Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Finally, BNP Paribas Exane upgraded shares of Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 target price for the company in a research report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.52.

Nokia Stock Up 0.3%

NOK opened at $4.82 on Thursday. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46. The company has a fifty day moving average of $4.40 and a two-hundred day moving average of $4.87. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 24.12 and a beta of 0.85.

Nokia (NYSE:NOK - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $4.82 billion. Nokia had a return on equity of 8.36% and a net margin of 5.30%.The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. On average, research analysts expect that Nokia Corporation will post 0.34 earnings per share for the current year.

Nokia Profile

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.

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