Pinnacle Associates Ltd. Sells 5,295 Shares of Nebius Group N.V. $NBIS

Pinnacle Associates Ltd. reduced its stake in Nebius Group N.V. (NASDAQ:NBIS) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,156 shares of the company’s stock after selling 5,295 shares during the period. Pinnacle Associates Ltd.’s holdings in Nebius Group were worth $10,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIS. Cambridge Investment Research Advisors Inc. bought a new position in shares of Nebius Group in the 1st quarter worth $208,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Nebius Group in the 1st quarter worth $1,247,000. Vontobel Holding Ltd. bought a new position in shares of Nebius Group in the 1st quarter worth $937,000. First Horizon Advisors Inc. bought a new stake in shares of Nebius Group in the 1st quarter valued at $33,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Nebius Group in the 1st quarter valued at $390,000. 21.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NBIS has been the subject of a number of recent analyst reports. BWS Financial upped their price objective on shares of Nebius Group from $90.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Seaport Res Ptn upgraded shares of Nebius Group to a “hold” rating in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Nebius Group in a research report on Tuesday, October 14th. DA Davidson restated a “buy” rating and issued a $75.00 price objective on shares of Nebius Group in a research report on Tuesday, September 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $120.00 price objective on shares of Nebius Group in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $91.20.

Nebius Group Trading Up 5.3%

Shares of NASDAQ NBIS opened at $130.82 on Friday. The business has a 50-day moving average of $102.65 and a 200-day moving average of $65.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 14.70 and a current ratio of 14.70. Nebius Group N.V. has a fifty-two week low of $17.39 and a fifty-two week high of $141.10.

Nebius Group (NASDAQ:NBIS) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The company had revenue of $105.10 million during the quarter, compared to analysts’ expectations of $95.60 million. Nebius Group had a return on equity of 6.14% and a net margin of 99.34%. As a group, sell-side analysts anticipate that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

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.