Sumitomo Mitsui Trust Group Inc. Increases Stake in Nebius Group N.V. $NBIS

Sumitomo Mitsui Trust Group Inc. grew its holdings in Nebius Group N.V. (NASDAQ:NBIS) by 74.9% during the 1st quarter, Holdings Channel reports. The fund owned 517,317 shares of the company’s stock after buying an additional 221,559 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nebius Group were worth $53,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada bought a new stake in shares of Nebius Group during the 1st quarter valued at $1,628,000. Millennium Management LLC bought a new position in Nebius Group in the 1st quarter worth $11,563,000. NewEdge Advisors LLC purchased a new position in Nebius Group during the first quarter valued at $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Nebius Group during the first quarter valued at $9,084,000. Finally, Daiwa Securities Group Inc. bought a new stake in Nebius Group during the second quarter valued at about $68,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wolfe Research began coverage on Nebius Group in a research note on Thursday, April 16th. They issued a “peer perform” rating on the stock. BWS Financial increased their target price on shares of Nebius Group from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Citigroup raised their target price on shares of Nebius Group from $169.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald started coverage on shares of Nebius Group in a report on Thursday, April 9th. They set an “overweight” rating and a $129.00 price target on the stock. Finally, DA Davidson lowered shares of Nebius Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $200.00 to $250.00 in a research report on Monday, May 18th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nebius Group has a consensus rating of “Moderate Buy” and a consensus price target of $203.25.

Insider Buying and Selling

In other Nebius Group news, CRO Marc Boroditsky sold 10,776 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $276.20, for a total value of $2,976,331.20. Following the completion of the transaction, the executive directly owned 26,886 shares in the company, valued at $7,425,913.20. This represents a 28.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Danila Shtan sold 16,937 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $235.45, for a total transaction of $3,987,816.65. Following the sale, the chief technology officer directly owned 274,763 shares of the company’s stock, valued at approximately $64,692,948.35. This trade represents a 5.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 685,822 shares of company stock worth $143,150,295 in the last quarter.

Nebius Group Price Performance

NASDAQ:NBIS traded up $3.45 on Friday, reaching $219.65. 11,462,026 shares of the company’s stock traded hands, compared to its average volume of 16,635,219. The stock has a 50-day simple moving average of $226.38 and a 200-day simple moving average of $149.41. Nebius Group N.V. has a 12 month low of $43.89 and a 12 month high of $299.86. The firm has a market cap of $55.58 billion, a PE ratio of 70.86 and a beta of 4.10. The company has a quick ratio of 8.33, a current ratio of 8.33 and a debt-to-equity ratio of 1.16.

Nebius Group (NASDAQ:NBIS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.58. Nebius Group had a negative return on equity of 9.11% and a net margin of 95.27%.The firm had revenue of $399.00 million during the quarter, compared to analyst estimates of $375.13 million. The business’s revenue for the quarter was up 684.0% on a year-over-year basis. Equities research analysts forecast that Nebius Group N.V. will post -1.91 earnings per share for the current year.

Nebius Group Profile

Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company’s services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.