Fifth Third Bancorp Invests $130,000 in Nebius Group N.V. (NASDAQ:NBIS)

Fifth Third Bancorp purchased a new stake in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,144 shares of the company's stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new stake in Nebius Group during the 4th quarter valued at $9,505,000. SG Americas Securities LLC purchased a new stake in shares of Nebius Group during the first quarter worth about $3,415,000. TB Alternative Assets Ltd. purchased a new stake in Nebius Group in the first quarter valued at approximately $2,957,000. Intellectus Partners LLC acquired a new position in Nebius Group in the first quarter valued at approximately $570,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Nebius Group in the first quarter valued at approximately $453,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NBIS. Wall Street Zen upgraded Nebius Group from a "sell" rating to a "hold" rating in a report on Saturday. Arete started coverage on Nebius Group in a research note on Thursday, June 5th. They issued a "buy" rating and a $84.00 target price on the stock. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Northland Securities set a $47.00 price target on Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Finally, BWS Financial boosted their price objective on Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Nebius Group currently has an average rating of "Buy" and an average price target of $66.50.

Nebius Group Stock Down 1.0%

NBIS stock traded down $0.49 during trading on Monday, hitting $47.48. The company had a trading volume of 12,166,234 shares, compared to its average volume of 11,252,414. The firm has a 50-day moving average price of $35.33 and a 200-day moving average price of $32.44. Nebius Group N.V. has a 12 month low of $14.09 and a 12 month high of $55.04. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of -83.30 and a beta of 3.25.

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.