Bank of America Corp DE Has $155.50 Million Stock Holdings in Nebius Group N.V. $NBIS

Key Points

• Bank of America increased its Nebius Group stake by 49.6% in the first quarter, holding 1.50 million shares worth approximately $155.5 million. Institutional investors collectively own 21.9% of the company.
• Nebius reported first-quarter revenue of $399 million, up 684% year over year and above estimates, while its adjusted loss of $0.23 per share beat consensus expectations.
• NBIS shares were down 3.0% at $218.99, with substantial volatility reflected by a beta of 4.23. Insiders sold roughly 652,000 shares valued at $137.4 million over the past 90 days, while analysts maintain a consensus “Moderate Buy” rating and a $221.64 price target.

Bank of America Corp DE raised its position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) by 49.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,498,631 shares of the company's stock after acquiring an additional 496,700 shares during the period. Bank of America Corp DE owned about 0.59% of Nebius Group worth $155,498,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Royal Bank of Canada bought a new stake in shares of Nebius Group in the first quarter worth $1,628,000. Millennium Management LLC bought a new position in Nebius Group in the first quarter valued at $11,563,000. NewEdge Advisors LLC bought a new position in Nebius Group in the first quarter valued at $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Nebius Group in the first quarter valued at $9,084,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Nebius Group in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 21.90% of the company's stock.

Insider Buying and Selling

In other news, CTO Danila Shtan sold 16,937 shares of Nebius Group stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $235.45, for a total transaction of $3,987,816.65. Following the completion of the sale, the chief technology officer owned 274,763 shares of the company's stock, valued at approximately $64,692,948.35. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrey Korolenko sold 500,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 585,209 shares of the company's stock, valued at approximately $118,937,877.16. The trade was a 46.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 651,704 shares of company stock valued at $137,422,230 in the last ninety days.

Nebius Group Stock Down 3.0%

Shares of NBIS opened at $218.99 on Thursday. Nebius Group N.V. has a 52 week low of $53.95 and a 52 week high of $299.86. The firm has a market cap of $55.41 billion, a P/E ratio of 70.64 and a beta of 4.23. The firm's 50-day simple moving average is $226.02 and its 200 day simple moving average is $162.70. The company has a debt-to-equity ratio of 1.16, a quick ratio of 8.33 and a current ratio of 8.33.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.58. Nebius Group had a net margin of 95.27% and a negative return on equity of 9.11%. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $375.13 million. Nebius Group's revenue for the quarter was up 684.0% compared to the same quarter last year. On average, analysts forecast that Nebius Group N.V. will post -1.54 earnings per share for the current year.

Nebius Group News Summary

Here are the key news stories impacting Nebius Group this week:

• Positive Sentiment: Citigroup maintained a Buy rating on NBIS despite trimming its price target to $278 from $287, implying substantial potential upside from recent trading levels. Citigroup lowers Nebius price target and maintains Buy rating
• Positive Sentiment: Nebius appointed Lindsey Irvine as chief marketing officer. Her prior experience at Square, Benchling and MuleSoft could support the company’s global go-to-market efforts as it expands its AI-cloud business following record growth. Nebius appoints Lindsey Irvine as Chief Marketing Officer
• Positive Sentiment: A reported “Power Inflow” trading signal pointed to elevated institutional and retail buying interest, while broader enthusiasm for AI infrastructure remains supportive of neocloud stocks. Nebius Shares Rise After Key Trading Signal

Wall Street Analysts Forecast Growth

NBIS has been the topic of several analyst reports. Wall Street Zen raised shares of Nebius Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Piper Sandler assumed coverage on Nebius Group in a report on Monday. They issued a "neutral" rating and a $224.00 price objective for the company. Freedom Capital raised Nebius Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. DA Davidson lowered Nebius Group from a "buy" rating to a "neutral" rating and upped their target price for the stock from $200.00 to $250.00 in a report on Monday, May 18th. Finally, Citizens Jmp increased their price target on Nebius Group from $175.00 to $270.00 and gave the company a "market outperform" rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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