Nokia Oyj (NYSE:NOK) Position Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Nokia Oyj (NYSE:NOK) by 67.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,091,447 shares of the technology company’s stock after selling 2,294,816 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Nokia Oyj were worth $4,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its position in Nokia Oyj by 55.0% during the 4th quarter. Millennium Management LLC now owns 27,742,934 shares of the technology company’s stock worth $128,727,000 after acquiring an additional 9,842,934 shares during the last quarter. Renaissance Technologies LLC grew its position in Nokia Oyj by 35.1% in the first quarter. Renaissance Technologies LLC now owns 28,586,180 shares of the technology company’s stock valued at $140,358,000 after purchasing an additional 7,419,900 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Nokia Oyj by 93.1% during the 1st quarter. BlackRock Inc. now owns 11,039,382 shares of the technology company’s stock worth $54,203,000 after buying an additional 5,321,714 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Nokia Oyj by 6.4% in the 1st quarter. Artisan Partners Limited Partnership now owns 87,523,124 shares of the technology company’s stock worth $429,739,000 after purchasing an additional 5,296,106 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of Nokia Oyj by 251.9% in the 1st quarter. Balyasny Asset Management L.P. now owns 5,876,865 shares of the technology company’s stock valued at $28,855,000 after buying an additional 4,206,922 shares in the last quarter. 5.26% of the stock is currently owned by institutional investors.

Nokia Oyj Stock Performance

Shares of Nokia Oyj stock opened at $3.59 on Tuesday. Nokia Oyj has a 52 week low of $3.05 and a 52 week high of $5.11. The business’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $3.86. The firm has a market cap of $20.22 billion, a PE ratio of 5.13 and a beta of 1.02. The company has a quick ratio of 1.35, a current ratio of 1.64 and a debt-to-equity ratio of 0.17.

Nokia Oyj (NYSE:NOK) last released its quarterly earnings data on Thursday, October 19th. The technology company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Nokia Oyj had a net margin of 15.62% and a return on equity of 9.08%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the company posted $0.10 EPS. Equities analysts forecast that Nokia Oyj will post 0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOK. Raymond James dropped their price target on shares of Nokia Oyj from $6.00 to $4.50 and set an “outperform” rating on the stock in a research report on Friday, October 20th. StockNews.com assumed coverage on shares of Nokia Oyj in a report on Thursday, October 5th. They issued a “hold” rating on the stock. DNB Markets upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. The Goldman Sachs Group cut their price target on shares of Nokia Oyj from $5.90 to $5.10 and set a “buy” rating on the stock in a report on Friday, October 20th. Finally, JPMorgan Chase & Co. lowered their price target on Nokia Oyj from $7.24 to $6.85 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Nokia Oyj has an average rating of “Moderate Buy” and an average target price of $5.61.

About Nokia Oyj

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. It offers products and services for radio access networks and microwave radio links for transport networks, and solutions for network management, as well as network planning, optimization, network deployment, and technical support services.