Penserra Capital Management LLC Raises Stock Holdings in Nokia Corporation $NOK

Key Points

• Penserra Capital Management increased its Nokia stake by 38% in Q3, buying 2,136,545 shares to hold 7,760,500 shares worth about $37.33 million (≈0.14% of the company).
• Analyst activity includes Morgan Stanley upgrading Nokia to "overweight," and the consensus from analysts is a Moderate Buy with a $6.77 target; NOK trades near $6.71 with a market cap of $38.5 billion and a P/E of ~51.6.

Penserra Capital Management LLC grew its position in Nokia Corporation (NYSE:NOK - Free Report) by 38.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,760,500 shares of the technology company's stock after purchasing an additional 2,136,545 shares during the period. Penserra Capital Management LLC owned approximately 0.14% of Nokia worth $37,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Nokia in the 2nd quarter worth approximately $34,000. First Horizon Advisors Inc. increased its stake in shares of Nokia by 677.1% in the second quarter. First Horizon Advisors Inc. now owns 8,486 shares of the technology company's stock worth $44,000 after acquiring an additional 7,394 shares during the period. Park National Corp OH purchased a new position in shares of Nokia during the third quarter worth $51,000. Eagle Strategies LLC acquired a new position in Nokia during the second quarter valued at $52,000. Finally, World Investment Advisors purchased a new stake in Nokia in the second quarter valued at $54,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOK shares. Northland Securities set a $7.50 target price on Nokia in a research note on Friday, October 24th. Morgan Stanley upgraded shares of Nokia from an "equal weight" rating to an "overweight" rating in a research note on Thursday, January 15th. Wall Street Zen cut shares of Nokia from a "buy" rating to a "hold" rating in a report on Sunday, November 30th. New Street Research set a $6.57 target price on shares of Nokia in a research note on Thursday, November 20th. Finally, Raymond James Financial restated an "outperform" rating on shares of Nokia in a research report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.77.

Nokia Trading Up 0.7%

NOK stock opened at $6.71 on Wednesday. Nokia Corporation has a 12-month low of $4.00 and a 12-month high of $8.19. The business's 50-day moving average is $6.44 and its 200 day moving average is $5.60. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11. The stock has a market cap of $38.50 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 2.31 and a beta of 0.81.

Nokia Company Profile

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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