Renaissance Technologies LLC Cuts Stake in Nokia Oyj (NYSE:NOK)

Renaissance Technologies LLC lowered its holdings in shares of Nokia Oyj (NYSE:NOK - Free Report) by 29.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,582,980 shares of the technology company's stock after selling 1,077,200 shares during the period. Renaissance Technologies LLC's holdings in Nokia Oyj were worth $9,764,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. PDS Planning Inc increased its stake in Nokia Oyj by 46.8% in the first quarter. PDS Planning Inc now owns 33,943 shares of the technology company's stock valued at $120,000 after purchasing an additional 10,815 shares in the last quarter. First Affirmative Financial Network increased its position in Nokia Oyj by 10.3% in the 1st quarter. First Affirmative Financial Network now owns 31,351 shares of the technology company's stock valued at $111,000 after buying an additional 2,932 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Nokia Oyj by 98.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,749,327 shares of the technology company's stock worth $6,193,000 after buying an additional 867,297 shares during the period. CreativeOne Wealth LLC boosted its holdings in Nokia Oyj by 62.3% in the first quarter. CreativeOne Wealth LLC now owns 17,628 shares of the technology company's stock worth $63,000 after acquiring an additional 6,768 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Nokia Oyj in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 5.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOK. StockNews.com downgraded shares of Nokia Oyj from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 19th. Northland Securities reiterated an "outperform" rating and set a $6.50 price objective (up from $6.00) on shares of Nokia Oyj in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Nokia Oyj presently has an average rating of "Hold" and an average target price of $4.54.

Nokia Oyj Price Performance

NOK opened at $4.30 on Tuesday. Nokia Oyj has a 1 year low of $2.94 and a 1 year high of $4.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.82 and a quick ratio of 1.57. The company has a market capitalization of $23.75 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 5.13 and a beta of 1.12. The firm's fifty day moving average price is $4.05 and its two-hundred day moving average price is $3.83.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. Nokia Oyj had a net margin of 1.95% and a return on equity of 7.98%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $5.12 billion. As a group, analysts anticipate that Nokia Oyj will post 0.36 earnings per share for the current fiscal year.

Nokia Oyj Profile

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.