PNC Financial Services Group Inc. Makes New Investment in Nebius Group N.V. $NBIS

PNC Financial Services Group Inc. purchased a new position in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,382 shares of the company's stock, valued at approximately $198,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PFG Investments LLC bought a new position in Nebius Group in the first quarter worth approximately $860,000. SeaCrest Wealth Management LLC bought a new position in Nebius Group in the first quarter worth approximately $453,000. DekaBank Deutsche Girozentrale bought a new position in Nebius Group in the first quarter worth approximately $8,519,000. Colonial River Investments LLC bought a new position in Nebius Group in the first quarter worth approximately $330,000. Finally, Vontobel Holding Ltd. bought a new position in Nebius Group in the first quarter worth approximately $937,000. Institutional investors own 21.90% of the company's stock.

Analyst Ratings Changes

NBIS has been the topic of a number of recent research reports. Arete initiated 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. 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. DA Davidson increased their price target on Nebius Group from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on Nebius Group in a research report on Monday, July 14th. They issued a "buy" rating and a $68.00 price target for the company. Finally, Wall Street Zen lowered Nebius Group from a "hold" rating to a "sell" rating in a research report on Sunday. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $70.80.

Nebius Group Stock Performance

Nebius Group stock traded down $1.7440 during mid-day trading on Wednesday, reaching $65.4460. 10,767,960 shares of the company's stock were exchanged, compared to its average volume of 12,942,900. The business's fifty day simple moving average is $54.20 and its 200 day simple moving average is $39.15. The firm has a market capitalization of $15.43 billion, a PE ratio of -114.77 and a beta of 3.36. Nebius Group N.V. has a one year low of $14.09 and a one year high of $75.96. The company has a quick ratio of 14.70, a current ratio of 14.70 and a debt-to-equity ratio of 0.31.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported ($0.48) EPS for the quarter. The company had revenue of $55.30 million during the quarter. The firm's quarterly revenue was up 385 on a year-over-year basis. During the same quarter last year, the company earned ($0.25) EPS. On average, sell-side analysts expect that Nebius Group N.V. will post -1.1 earnings per share for the current 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.