Acadian Asset Management LLC Takes Position in Nokia Corporation $NOK

Key Points

• Acadian Asset Management LLC has acquired a new stake in Nokia Corporation, purchasing approximately 8.59 million shares valued at about $45.21 million in the first quarter.
• Nokia's stock recently reported earnings of $0.05 per share, missing estimates by $0.02, despite a revenue increase to $5.34 billion, surpassing analyst expectations.
• Several hedge funds, including Goldman Sachs and Deutsche Bank, have significantly increased their holdings in Nokia during recent quarters, indicating rising institutional interest in the stock.

Acadian Asset Management LLC bought a new stake in shares of Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,588,317 shares of the technology company's stock, valued at approximately $45,207,000. Acadian Asset Management LLC owned about 0.16% of Nokia as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings 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 valued at $66,140,000 after purchasing an additional 1,002,033 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Nokia by 125.4% during the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after purchasing an additional 6,677,017 shares during the last quarter. Deutsche Bank AG lifted its holdings 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 valued at $45,179,000 after purchasing an additional 4,835,005 shares during the last quarter. Northern Trust Corp lifted its holdings 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 valued at $20,573,000 after purchasing an additional 228,030 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings 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 valued at $19,540,000 after purchasing an additional 1,078,476 shares during the last quarter. 5.28% of the stock is owned by hedge funds and other institutional investors.

Nokia Stock Performance

Shares of NOK stock opened at $4.57 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. Nokia Corporation has a fifty-two week low of $3.91 and a fifty-two week high of $5.48. The stock's 50-day moving average is $4.45 and its two-hundred day moving average is $4.91. The firm has a market cap of $24.56 billion, a P/E ratio of 22.83 and a beta of 0.90.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BNP Paribas raised Nokia from a "hold" rating to an "outperform" rating and set a $5.00 target price for the company in a report on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their price objective on Nokia from $6.50 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Wall Street Zen raised Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, BNP Paribas Exane raised Nokia from a "neutral" rating to an "outperform" rating and set a $5.00 price objective for the company in a research note on Wednesday, September 3rd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nokia presently has a consensus rating of "Moderate Buy" and an average target price of $5.52.

About Nokia

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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