Fred Alger Management LLC Makes New Investment in Nebius Group N.V. $NBIS

Key Points

• Fred Alger Management LLC acquired a new stake in Nebius Group N.V. worth approximately $67.4 million, owning about 1.35% of the company as of the latest reporting period.
• Nebius Group recently reported a quarterly loss of ($0.44) EPS, missing analysts' estimates, with revenue significantly below expectations at $47.6 million.
• Several institutional investors have also established substantial stakes in Nebius Group, contributing to 21.90% of the company's ownership being held by institutional investors.

Fred Alger Management LLC bought a new stake in Nebius Group N.V. (NASDAQ:NBIS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,194,250 shares of the company's stock, valued at approximately $67,431,000. Fred Alger Management LLC owned about 1.35% of Nebius Group at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Two Seas Capital LP acquired a new position in Nebius Group in the first quarter valued at $3,166,000. Scientech Research LLC acquired a new position in Nebius Group in the first quarter valued at $869,000. Murchinson Ltd. acquired a new position in Nebius Group in the first quarter valued at $1,056,000. Nvidia Corp acquired a new position in Nebius Group in the first quarter valued at $25,131,000. Finally, NewEdge Advisors LLC acquired a new position in Nebius Group in the first quarter valued at $40,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

Nebius Group Stock Up 49.4%

NBIS stock traded up $31.66 during trading on Tuesday, reaching $95.72. The stock had a trading volume of 88,176,403 shares, compared to its average volume of 10,063,163. Nebius Group N.V. has a 1-year low of $14.09 and a 1-year high of $98.68. The company has a current ratio of 14.70, a quick ratio of 14.70 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $22.57 billion, a P/E ratio of 71.98 and a beta of 3.55. The firm has a fifty day moving average price of $60.10 and a 200 day moving average price of $42.19.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 9th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.03). The business had revenue of $47.60 million for the quarter, compared to analysts' expectations of $95.60 million. On average, equities analysts anticipate that Nebius Group N.V. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBIS. The Goldman Sachs Group began coverage on Nebius Group in a report on Monday, July 14th. They issued a "buy" rating and a $68.00 target price on the stock. DA Davidson reiterated a "buy" rating and issued a $75.00 target price on shares of Nebius Group in a report on Tuesday. Wall Street Zen cut Nebius Group from a "hold" rating to a "sell" rating in a report on Saturday. Arete began coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 target price on the stock. Finally, Arete Research upgraded Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $80.80.

Nebius Group Profile

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.