44,370 Shares in Nebius Group N.V. (NASDAQ:NBIS) Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. acquired a new position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 44,370 shares of the company's stock, valued at approximately $937,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Nebius Group during the 1st quarter valued at about $36,000. Ulland Investment Advisors LLC purchased a new position in Nebius Group in the first quarter worth $53,000. Creative Financial Designs Inc. ADV bought a new position in Nebius Group in the first quarter valued at $57,000. GAMMA Investing LLC purchased a new stake in Nebius Group in the first quarter worth approximately $80,000. Finally, Fifth Third Bancorp bought a new position in Nebius Group during the first quarter valued at approximately $130,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

Nebius Group Stock Down 4.8%

Shares of NASDAQ:NBIS traded down $2.41 on Monday, hitting $47.84. The company had a trading volume of 9,386,143 shares, compared to its average volume of 11,266,875. The firm's 50-day simple moving average is $41.00 and its two-hundred day simple moving average is $33.87. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of -83.93 and a beta of 3.25. Nebius Group N.V. has a 1 year low of $14.09 and a 1 year high of $55.75.

Wall Street Analyst Weigh In

NBIS has been the subject of a number of research reports. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Arete started coverage on Nebius Group in a research report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective for the company. Northland Capmk raised shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, DA Davidson upped their price objective on shares of Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $66.50.

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.