Exchange Traded Concepts LLC Sells 39,484 Shares of Nebius Group N.V. $NBIS

Key Points

• Exchange Traded Concepts LLC reduced its holdings in Nebius Group N.V. by 31.8% in Q2, now owning 84,660 shares valued at approximately $4.68 million.
• Nebius Group reported a quarterly EPS of ($0.38), exceeding analyst expectations, with revenue of $105.10 million against a consensus estimate of $95.60 million.
• Recent analyst ratings show a consensus rating of "Buy" for Nebius Group, with BWS Financial raising the target price from $90.00 to $130.00.

Exchange Traded Concepts LLC cut its holdings in Nebius Group N.V. (NASDAQ:NBIS - Free Report) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,660 shares of the company's stock after selling 39,484 shares during the period. Exchange Traded Concepts LLC's holdings in Nebius Group were worth $4,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Orbis Allan Gray Ltd acquired a new stake in Nebius Group during the first quarter worth approximately $331,474,000. Accel Leaders 4 Associates L.P. acquired a new stake in shares of Nebius Group during the 1st quarter worth approximately $96,704,000. Invesco Ltd. bought a new stake in shares of Nebius Group in the 1st quarter valued at $73,782,000. Fred Alger Management LLC acquired a new position in shares of Nebius Group during the 1st quarter valued at $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in Nebius Group in the first quarter valued at $46,822,000. 21.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group restated a "buy" rating and issued a $120.00 target price on shares of Nebius Group in a research note on Wednesday, September 17th. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target on the stock. Wall Street Zen downgraded Nebius Group from a "hold" rating to a "sell" rating in a report on Monday. Seaport Res Ptn raised Nebius Group to a "hold" rating in a research report on Monday, September 15th. Finally, DA Davidson reissued a "buy" rating and issued a $75.00 price target on shares of Nebius Group in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $91.20.

Nebius Group Stock Up 2.8%

Nebius Group stock traded up $3.00 during midday trading on Tuesday, hitting $109.60. 7,114,652 shares of the stock were exchanged, compared to its average volume of 13,659,829. Nebius Group N.V. has a 52-week low of $14.09 and a 52-week high of $109.50. The company has a quick ratio of 14.70, a current ratio of 14.70 and a debt-to-equity ratio of 0.31. The business's 50-day moving average price is $68.37 and its 200-day moving average price is $46.21. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of -191.28 and a beta of 3.55.

Nebius Group (NASDAQ:NBIS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.03. The firm had revenue of $105.10 million during the quarter, compared to analysts' expectations of $95.60 million. On average, research analysts expect that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

Nebius Group Company 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.