Recent insider trends for Nokia Corporation (NYSE:NOK) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. NOK’s insider trading patterns have some implications for where the stock might be headed.
Institutions own 06.63% of Nokia Corporation (NOK)’s shares. The total value of these holdings, in millions, is $2,152. Among active positions in the latest quarter, 143 holders increased their positions by a total of 75.92 million shares, 165 holders decreased the positions by a total of 43.5 million shares, and 88 holders held their positions. This works out to a net increase in ownership of 32.43 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 64 holders initiated new positions by a total of 16.79 million shares and 56 holders exited their positions by a total of 15 million shares. This nets out to an increase of 1.79 million shares and is a bullish sign for NOK.
Insider ownership increased by a total of 0 shares, which suggests that NOK’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: and ownership increased by a net of 0 shares.
The analysis of insider buying and selling trends can be extended to the aggregate level. Short interest, which represents the number of a stock’s shares currently being shorted, captures what the market as a whole feels about a stock. Nokia Corporation (NYSE:NOK)’s short interest is 33.21 million shares, or 0.59% of the float. This represents an increase of 12% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for NOK. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that NOK is a Strong buy, which implies that NOK is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Nokia Corporation (NYSE:NOK) is undervalued.