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Nokia Oyj Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

ENXTPA:NOKIA Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
13 Aug 26	Buy€26,273	Raghav Sahgal	Individual	2,890	€9.09
13 Aug 26	Buy€55	Victoria Hanrahan	Individual	6	€9.09
13 Aug 26	Buy€10,646	David Heard	Individual	1,171	€9.09
29 Jul 26	Buy€55,689	Mikko Hautala	Individual	7,103	€7.84
24 Jul 26	Buy€507,136	Timo Ihamuotila	Individual	60,000	€8.46
24 Jul 26	Buy€365,480	Patrik Hammaren	Individual	43,293	€8.44
15 May 26	Buy€16,246	Raghav Sahgal	Individual	1,344	€12.09
15 May 26	Buy€5,826	David Heard	Individual	482	€12.09
28 Apr 26	Buy€772,103	Justin Hotard	Individual	84,404	€9.15
28 Apr 26	Buy€454,804	Timo Ihamuotila	Individual	50,000	€9.10
19 Mar 26	Sell€234,312	Thomas Dannenfeldt	Individual	33,500	€6.99
10 Mar 26	Sell€1,006,080	Raghav Sahgal	Individual	150,000	€6.71
19 Feb 26	Buy€15,067	Raghav Sahgal	Individual	2,391	€6.30
19 Feb 26	Buy€1,582	David Heard	Individual	251	€6.30
13 Nov 25	Buy€30	Tommi Uitto	Individual	5	€6.06
13 Nov 25	Buy€818	Louise Fisk	Individual	135	€6.06
13 Nov 25	Buy€13,284	Raghav Sahgal	Individual	2,192	€6.06
29 Oct 25	Sell€364,078	Tommi Uitto	Individual	57,589	€6.32
27 Oct 25	Buy€670	Tommi Uitto	Individual	125	€5.36

Insider Trading Volume

Insider Buying: NOKIA insiders have sold more shares than they have bought in the past 3 months.

Ownership Breakdown

What is the ownership structure of NOKIA?
Owner Type	Number of Shares	Ownership Percentage
State or Government	7,876,898	0.141%
Individual Insiders	13,907,246	0.249%
Private Companies	33,748,265	0.603%
Sovereign Wealth Funds	325,000,000	5.81%
Institutions	2,489,519,301	44.5%
General Public	2,723,941,122	48.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 36.51% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
5.81%	Solidium Oy	325,000,000	€1.8b	0%	18.55%
4.42%	BlackRock, Inc.	247,101,919	€1.4b	-1.13%	0.02%
4.07%	The Vanguard Group, Inc.	227,731,331	€1.3b	1.9%	0.02%
2.82%	Artisan Partners Limited Partnership	157,563,990	€877.9m	-0.72%	0.71%
1.73%	Keskinäinen Eläkevakuutusyhtiö Ilmarinen	96,900,000	€539.9m	22.2%	3.65%
1.66%	Pzena Investment Management, Inc.	92,751,574	€516.8m	14.4%	0.98%
1.64%	FMR LLC	91,595,796	€510.4m	1.34%	0.03%
1.42%	Norges Bank Investment Management	79,439,812	€442.6m	0%	0.03%
1.31%	Keskinäinen työeläkevakuutusyhtiö Varma	73,265,945	€408.2m	0%	2.34%
1.11%	Amundi Asset Management SAS	62,289,521	€347.1m	-0.26%	0.07%
0.98%	Deutsche Asset & Wealth Management	54,700,676	€304.8m	0.54%	0.08%
0.94%	Geode Capital Management, LLC	52,620,452	€293.2m	3.03%	0.02%
0.9%	Eurizon Capital SGR SpA	50,164,629	€279.5m	0%	0.71%
0.84%	Keskinäinen vakuutusyhtiö Eläke-Fennia	46,969,000	€261.7m	17.1%	3.31%
0.83%	Dimensional Fund Advisors LP	46,217,495	€257.5m	-0.43%	0.04%
0.8%	UBS Asset Management AG	44,880,010	€250.1m	3.85%	0.03%
0.78%	Arrowstreet Capital, Limited Partnership	43,448,456	€242.1m	50%	0.17%
0.73%	Nordea Investment Management, AB	40,839,689	€227.6m	-1.02%	0.15%
0.66%	Slate Path Capital LP	36,887,202	€205.5m	-4.26%	3.17%
0.64%	E. Öhman J:or Wealth Management	35,682,405	€198.8m	0%	1.1%
0.57%	Skandia Fonder AB	32,087,422	€178.8m	0%	1.51%
0.55%	Valtion Elakerahasto - State Pension Fund	31,000,000	€172.7m	969%	11.36%
0.48%	DNB Asset Management AS	26,790,911	€149.3m	0%	0.46%
0.43%	Opstock Asset Management	24,171,469	€134.7m	16%	24.17%
0.4%	JP Morgan Asset Management	22,107,759	€123.2m	6.93%	0.01%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/01/02 01:31
End of Day Share Price	2025/12/30 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nokia Oyj is covered by 63 analysts. 21 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Richard Kramer	Arete Research Services LLP
James Kelleher	Argus Research Company