Slate Path Capital LP Purchases 4,113,884 Shares of Nokia Oyj (NYSE:NOK)

Slate Path Capital LP increased its stake in shares of Nokia Oyj (NYSE:NOK - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,438,987 shares of the technology company's stock after purchasing an additional 4,113,884 shares during the quarter. Nokia Oyj accounts for 2.5% of Slate Path Capital LP's holdings, making the stock its 16th largest holding. Slate Path Capital LP owned about 0.56% of Nokia Oyj worth $134,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Nokia Oyj by 62.3% during the fourth quarter. FMR LLC now owns 49,501,674 shares of the technology company's stock worth $219,292,000 after buying an additional 19,004,399 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Nokia Oyj by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 29,058,227 shares of the technology company's stock worth $128,728,000 after buying an additional 18,660,482 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Nokia Oyj by 137.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,650,838 shares of the technology company's stock worth $20,603,000 after acquiring an additional 2,691,546 shares during the period. Talos Asset Management LP purchased a new position in shares of Nokia Oyj during the 4th quarter worth approximately $9,147,000. Finally, Sei Investments Co. lifted its position in shares of Nokia Oyj by 79.5% in the fourth quarter. Sei Investments Co. now owns 4,437,084 shares of the technology company's stock valued at $19,656,000 after acquiring an additional 1,965,187 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Craig Hallum lifted their price target on Nokia Oyj from $6.00 to $7.00 and gave the company a "buy" rating in a report on Monday, January 6th. StockNews.com raised shares of Nokia Oyj from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. The Goldman Sachs Group lowered shares of Nokia Oyj from a "neutral" rating to a "sell" rating and set a $3.60 price objective for the company. in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Nokia Oyj from $6.35 to $6.30 and set an "overweight" rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.85.

Nokia Oyj Trading Up 2.7 %

NOK stock traded up $0.13 during mid-day trading on Friday, reaching $4.99. 20,965,142 shares of the stock traded hands, compared to its average volume of 17,768,904. The stock's fifty day moving average is $5.09 and its 200-day moving average is $4.72. The company has a current ratio of 1.58, a quick ratio of 1.39 and a debt-to-equity ratio of 0.14. Nokia Oyj has a 52-week low of $3.57 and a 52-week high of $5.48. The company has a market cap of $27.21 billion, a P/E ratio of 19.96, a P/E/G ratio of 6.43 and a beta of 0.97.

Nokia Oyj (NYSE:NOK - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Nokia Oyj had a net margin of 6.54% and a return on equity of 10.30%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.47 billion. As a group, sell-side analysts expect that Nokia Oyj will post 0.34 earnings per share for the current 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.