Nebius Group (NASDAQ:NBIS) Shares Gap Down – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $276.17, but opened at $240.27. Nebius Group shares last traded at $239.8160, with a volume of 8,461,688 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on NBIS. Citizens Jmp boosted their price target on shares of Nebius Group from $175.00 to $270.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Cantor Fitzgerald began coverage on shares of Nebius Group in a research note on Thursday, April 9th. They issued an “overweight” rating and a $129.00 price objective for the company. Morgan Stanley raised their price objective on shares of Nebius Group from $126.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Wolfe Research began coverage on shares of Nebius Group in a research report on Thursday, April 16th. They set a “peer perform” rating on the stock. Finally, DA Davidson downgraded shares of Nebius Group from a “buy” rating to a “neutral” rating and boosted their target price for the company from $200.00 to $250.00 in a research note on Monday, May 18th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.25.

Nebius Group Price Performance

The stock has a market capitalization of $60.90 billion, a price-to-earnings ratio of 77.41 and a beta of 4.03. The company has a current ratio of 8.33, a quick ratio of 8.33 and a debt-to-equity ratio of 1.16. The stock has a 50-day simple moving average of $215.92 and a 200 day simple moving average of $142.48.

Nebius Group (NASDAQ:NBIS) last issued its earnings results on Thursday, May 14th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.54. The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $375.13 million. Nebius Group had a negative return on equity of 9.11% and a net margin of 95.27%.The business’s quarterly revenue was up 684.0% compared to the same quarter last year. On average, equities research analysts forecast that Nebius Group N.V. will post -1.91 EPS for the current fiscal year.

Insider Buying and Selling at Nebius Group

In related news, CFO Sanchez Maria Del Dado Alonso sold 1,509 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $276.20, for a total transaction of $416,785.80. Following the transaction, the chief financial officer directly owned 12,672 shares of the company’s stock, valued at approximately $3,500,006.40. The trade was a 10.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Danila Shtan sold 15,678 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $238.96, for a total transaction of $3,746,414.88. Following the completion of the transaction, the chief technology officer owned 291,700 shares in the company, valued at approximately $69,704,632. This represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 626,887 shares of company stock valued at $124,696,143 in the last 90 days.

Hedge Funds Weigh In On Nebius Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd increased its stake in shares of Nebius Group by 12.4% in the second quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock worth $976,681,000 after acquiring an additional 1,949,708 shares during the last quarter. Fred Alger Management LLC boosted its position in Nebius Group by 33.4% during the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock valued at $1,137,551,000 after purchasing an additional 2,536,832 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in Nebius Group by 55.7% in the third quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock valued at $517,284,000 after purchasing an additional 1,648,497 shares in the last quarter. Morgan Stanley grew its stake in Nebius Group by 35.2% in the fourth quarter. Morgan Stanley now owns 3,704,659 shares of the company’s stock valued at $310,099,000 after purchasing an additional 964,984 shares in the last quarter. Finally, Clear Street Group Inc. increased its position in Nebius Group by 95.0% in the 4th quarter. Clear Street Group Inc. now owns 3,511,656 shares of the company’s stock worth $293,943,000 after purchasing an additional 1,710,924 shares during the last quarter. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

Nebius Group Company 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.