Jane Street Group LLC Sells 2,046,315 Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Jane Street Group LLC trimmed its stake in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 74.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 696,774 shares of the communications equipment provider's stock after selling 2,046,315 shares during the period. Jane Street Group LLC's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $5,282,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BOKF NA bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $41,000. Hexagon Capital Partners LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider's stock worth $43,000 after purchasing an additional 3,924 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 2,458 shares during the last quarter. Vest Financial LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth $77,000. Finally, Choreo LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $78,000. 7.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ERIC has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a "neutral" rating in a report on Monday, October 21st. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.2 %

NASDAQ:ERIC traded down $0.02 during mid-day trading on Tuesday, hitting $8.21. The company had a trading volume of 13,487,273 shares, compared to its average volume of 16,824,027. Telefonaktiebolaget LM Ericsson has a fifty-two week low of $4.77 and a fifty-two week high of $8.62. The business's fifty day moving average is $8.22 and its two-hundred day moving average is $7.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The firm has a market cap of $27.36 billion, a P/E ratio of -273.67 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Profile

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.