Caprock Group LLC Buys New Stake in Nokia Corporation $NOK

Caprock Group LLC acquired a new stake in shares of Nokia Corporation (NYSE:NOK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 93,009 shares of the technology company’s stock, valued at approximately $447,000.

Several other institutional investors have also recently modified their holdings of NOK. Thrivent Financial for Lutherans boosted its holdings in shares of Nokia by 35,010.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,655,143 shares of the technology company’s stock valued at $60,871,000 after acquiring an additional 12,619,099 shares during the last quarter. Folketrygdfondet boosted its holdings in Nokia by 66.6% in the 3rd quarter. Folketrygdfondet now owns 17,380,530 shares of the technology company’s stock worth $83,600,000 after buying an additional 6,950,487 shares during the last quarter. Millennium Management LLC increased its position 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 purchasing an additional 2,798,758 shares in the last quarter. Penserra Capital Management LLC raised its stake in Nokia by 38.0% in the 3rd quarter. Penserra Capital Management LLC now owns 7,760,500 shares of the technology company’s stock valued at $37,328,000 after purchasing an additional 2,136,545 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Nokia by 1.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 108,136,988 shares of the technology company’s stock valued at $560,150,000 after purchasing an additional 1,957,524 shares in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

Nokia Stock Performance

Shares of NOK opened at $7.32 on Wednesday. Nokia Corporation has a 12-month low of $4.00 and a 12-month high of $8.19. The stock has a market cap of $42.03 billion, a P/E ratio of 56.31, a PEG ratio of 2.57 and a beta of 0.81. The company has a 50-day moving average of $6.63 and a two-hundred day moving average of $5.80. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a research note on Monday, December 22nd. Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Tuesday, October 28th. Raymond James Financial restated an “outperform” rating on shares of Nokia in a report on Thursday, October 23rd. Danske raised Nokia from a “hold” rating to a “buy” rating in a research note on Friday, November 21st. Finally, Wall Street Zen downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.01.

Nokia 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.