Exchange Traded Concepts LLC Buys New Position in Nebius Group N.V. (NASDAQ:NBIS)

Exchange Traded Concepts LLC bought a new stake in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 124,144 shares of the company's stock, valued at approximately $2,621,000. Exchange Traded Concepts LLC owned about 0.05% of Nebius Group as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new position in Nebius Group during the first quarter valued at approximately $324,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Nebius Group in the 1st quarter valued at $1,196,000. West Oak Capital LLC bought a new position in shares of Nebius Group during the 1st quarter valued at $501,000. Fifth Third Bancorp purchased a new position in Nebius Group in the 1st quarter worth $130,000. Finally, Ulland Investment Advisors LLC purchased a new position in Nebius Group in the 1st quarter worth $53,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Nebius Group Stock Down 0.0%

Shares of NASDAQ:NBIS traded down $0.01 during midday trading on Thursday, hitting $48.32. 10,957,749 shares of the stock traded hands, compared to its average volume of 11,236,888. The business's 50 day moving average is $33.72 and its two-hundred day moving average is $32.07. The stock has a market capitalization of $11.39 billion, a PE ratio of -84.77 and a beta of 3.25. Nebius Group N.V. has a one year low of $14.09 and a one year high of $55.04.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NBIS shares. Arete began coverage on shares of Nebius Group in a research report on Thursday, June 5th. They set a "buy" rating and a $84.00 price target for the company. Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. Arete Research upgraded Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. Northland Securities set a $47.00 price target on Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Finally, DA Davidson increased their price objective on Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Nebius Group 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.