8,588,317 Shares in Nokia Corporation $NOK Acquired by Acadian Asset Management LLC

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 acquired a new stake in Nokia Corporation (NYSE:NOK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,588,317 shares of the technology company's stock, valued at approximately $45,207,000. Acadian Asset Management LLC owned approximately 0.16% of Nokia at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NOK. Woodline Partners LP boosted its stake in Nokia by 125.4% in the fourth quarter. Woodline Partners LP now owns 12,000,442 shares of the technology company's stock valued at $53,162,000 after acquiring an additional 6,677,017 shares in the last quarter. Deutsche Bank AG boosted 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. Millennium Management LLC boosted its stake in shares of Nokia by 6,539.2% during the first quarter. Millennium Management LLC now owns 2,841,558 shares of the technology company's stock worth $14,975,000 after buying an additional 2,798,758 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Nokia by 361.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,550,228 shares of the technology company's stock worth $11,298,000 after buying an additional 1,997,678 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Nokia by 85.9% during the fourth quarter. Northern Trust Corp now owns 3,675,795 shares of the technology company's stock worth $16,284,000 after buying an additional 1,698,005 shares during the period. Institutional investors and hedge funds own 5.28% of the company's stock.

Analysts Set New Price Targets

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

Nokia Price Performance

Shares of NOK traded up $0.01 during mid-day trading on Tuesday, reaching $4.56. 15,453,986 shares of the company's stock were exchanged, compared to its average volume of 20,299,691. The company has a quick ratio of 1.21, a current ratio of 1.46 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $4.91. Nokia Corporation has a 52-week low of $3.91 and a 52-week high of $5.48. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 22.78 and a beta of 0.90.

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

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.