Nebius Group (NASDAQ:NBIS) Stock Price Down 5.7% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s share price fell 5.7% on Wednesday . The stock traded as low as $249.21 and last traded at $259.66. 14,781,243 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 16,326,973 shares. The stock had previously closed at $275.25.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NBIS shares. DA Davidson lowered Nebius Group from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $200.00 to $250.00 in a report on Monday, May 18th. Morgan Stanley lifted 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. Citigroup boosted their target price on shares of Nebius Group from $169.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Freedom Capital cut shares of Nebius Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Bank of America upped their price target on Nebius Group from $240.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 8th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.25.

Nebius Group Price Performance

The stock’s 50-day moving average is $210.15 and its 200 day moving average is $139.05. The stock has a market capitalization of $60.19 billion, a PE ratio of 76.65 and a beta of 4.03. 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, beating the consensus estimate of ($0.77) by $0.54. The firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $375.13 million. Nebius Group had a net margin of 95.27% and a negative return on equity of 9.11%. The company’s quarterly revenue was up 684.0% on a year-over-year basis. As a group, equities analysts predict that Nebius Group N.V. will post -1.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Andrey Korolenko sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $203.24, for a total transaction of $101,620,000.00. Following the transaction, the insider owned 585,209 shares of the company’s stock, valued at approximately $118,937,877.16. This trade represents a 46.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Marc Boroditsky sold 10,776 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $276.20, for a total transaction of $2,976,331.20. Following the transaction, the executive owned 26,886 shares in the company, valued at $7,425,913.20. This represents a 28.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 700,710 shares of company stock valued at $132,153,501 in the last three months.

Institutional Trading of Nebius Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Nebius Group by 2,391.3% in the 4th quarter. State Street Corp now owns 3,219,326 shares of the company’s stock worth $269,474,000 after purchasing an additional 3,090,103 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Nebius Group in the fourth quarter valued at about $231,635,000. Fred Alger Management LLC boosted its stake in Nebius Group by 33.4% during the 3rd 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 period. Accel Leaders 3 Associates L.P. acquired a new stake in Nebius Group in the 4th quarter valued at approximately $188,496,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Nebius Group in the 3rd quarter valued at approximately $238,511,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

About Nebius Group

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.