Nebius Group (NASDAQ:NBIS) Stock Price Down 3.4% – Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS) shares were down 3.4% during trading on Tuesday . The stock traded as low as $88.31 and last traded at $90.03. Approximately 8,760,239 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 15,006,565 shares. The stock had previously closed at $93.23.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $120.00 price target on shares of Nebius Group in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Nebius Group in a report on Monday. Wall Street Zen cut Nebius Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. CICC Research began coverage on Nebius Group in a research report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 price target on the stock. Finally, Citizens Jmp began coverage on Nebius Group in a research report on Wednesday, November 19th. They set a “market outperform” rating and a $175.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $144.71.

Nebius Group Stock Performance

The company has a market capitalization of $22.67 billion, a PE ratio of -116.92 and a beta of 3.83. The stock has a 50 day moving average price of $101.44 and a two-hundred day moving average price of $81.81.

Institutional Trading of Nebius Group

Large investors have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd increased its stake in shares of Nebius Group by 12.4% during the 2nd quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock worth $976,681,000 after purchasing an additional 1,949,708 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Nebius Group by 33.4% in the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after purchasing an additional 2,536,832 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in Nebius Group by 55.7% during the third quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock worth $517,284,000 after buying an additional 1,648,497 shares during the last quarter. Invesco Ltd. raised its holdings in Nebius Group by 2.7% during the second quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock valued at $198,514,000 after buying an additional 92,710 shares in the last quarter. Finally, Rovida Investment Management Ltd lifted its position in shares of Nebius Group by 26.0% in the third quarter. Rovida Investment Management Ltd now owns 2,193,647 shares of the company’s stock worth $246,193,000 after buying an additional 453,000 shares during the last quarter. 21.90% of the stock is owned by institutional investors.

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.