Forum Financial Management LP Sells 4,300 Shares of Nokia Oyj (NYSE:NOK)

Forum Financial Management LP reduced its position in shares of Nokia Oyj (NYSE:NOK) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,745 shares of the technology company’s stock after selling 4,300 shares during the period. Forum Financial Management LP’s holdings in Nokia Oyj were worth $418,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NOK. Allspring Global Investments Holdings LLC bought a new position in shares of Nokia Oyj during the first quarter valued at about $35,000. GAMMA Investing LLC lifted its position in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares in the last quarter. Simplicity Wealth LLC bought a new stake in Nokia Oyj in the second quarter worth about $39,000. ORG Partners LLC bought a new stake in Nokia Oyj in the first quarter worth about $40,000. Finally, Occidental Asset Management LLC bought a new stake in Nokia Oyj in the second quarter worth about $40,000. 5.28% of the stock is owned by institutional investors.

Nokia Oyj Stock Down 1.3 %

NYSE:NOK opened at $4.67 on Tuesday. Nokia Oyj has a 1-year low of $2.94 and a 1-year high of $4.95. The firm’s 50-day moving average price is $4.43 and its 200-day moving average price is $4.04. The company has a market capitalization of $25.68 billion, a PE ratio of 58.38, a P/E/G ratio of 6.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.57.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com lowered shares of Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 26th. Danske upgraded shares of Nokia Oyj from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Craig Hallum upgraded shares of Nokia Oyj from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities reiterated an “outperform” rating and issued a $6.50 target price on shares of Nokia Oyj in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nokia Oyj from $4.36 to $4.35 and set a “neutral” rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nokia Oyj currently has a consensus rating of “Hold” and an average target price of $4.56.

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. 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.