Oaktree Capital Management LP Sells 7,551,921 Shares of Nokia Corporation $NOK

Oaktree Capital Management LP reduced its stake in shares of Nokia Corporation (NYSE:NOK - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,200,308 shares of the technology company's stock after selling 7,551,921 shares during the period. Nokia makes up approximately 1.1% of Oaktree Capital Management LP's holdings, making the stock its 19th biggest holding. Oaktree Capital Management LP owned 0.20% of Nokia worth $90,050,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NOK. J2 Capital Management Inc lifted its position in Nokia by 2.0% in the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company's stock valued at $548,000 after acquiring an additional 1,319 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Nokia by 6.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company's stock valued at $145,000 after purchasing an additional 1,450 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Nokia by 14.0% in the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company's stock valued at $97,000 after purchasing an additional 1,483 shares in the last quarter. Xponance LLC boosted its position in shares of Nokia by 13.0% during the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company's stock worth $88,000 after buying an additional 1,567 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Nokia by 12.1% during the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company's stock worth $118,000 after buying an additional 1,591 shares in the last quarter. Institutional investors own 5.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Danske upgraded Nokia from a "hold" rating to a "buy" rating in a research note on Wednesday, July 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Nokia in a research note on Friday, May 22nd. Argus raised shares of Nokia from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a research report on Monday, April 27th. Nordea Equity Research upgraded shares of Nokia from a "hold" rating to a "buy" rating in a research note on Friday, April 24th. Finally, Barclays reissued an "underweight" rating on shares of Nokia in a research report on Wednesday, April 29th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.57.

Nokia Trading Down 5.9%

NYSE NOK opened at $8.40 on Thursday. Nokia Corporation has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a current ratio of 1.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average of $13.08 and a 200-day moving average of $10.34. The company has a market cap of $48.23 billion, a PE ratio of 60.00, a PEG ratio of 1.01 and a beta of 1.17.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the company earned $0.04 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Nokia Corporation will post 0.41 EPS for the current fiscal year.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia's core activities center on designing, building and supporting communications networks and related software.

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