Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Nebius Group N.V. $NBIS

Key Points

• Sumitomo Mitsui Trust Group increased its Nebius Group stake by 74.9% in the first quarter, ending with 517,317 shares valued at about $53.7 million.
• Insider selling was notable: among recent transactions, insider Andrey Korolenko sold 500,000 shares and CEO Arkadiy Volozh sold 46,627 shares, with insiders selling 685,822 shares over the last quarter.
• Nebius posted strong revenue growth in its latest earnings report, beating EPS and revenue estimates as quarterly revenue surged 684% year over year to $399 million; analysts currently rate the stock a Moderate Buy with a consensus price target of $203.25.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) by 74.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,317 shares of the company's stock after buying an additional 221,559 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Nebius Group worth $53,677,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Nebius Group by 34,371.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,762 shares of the company's stock worth $7,848,000 after buying an additional 93,490 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Nebius Group during the fourth quarter valued at approximately $1,401,000. Geode Capital Management LLC grew its holdings in shares of Nebius Group by 1,095.7% during the fourth quarter. Geode Capital Management LLC now owns 2,046,799 shares of the company's stock valued at $169,840,000 after buying an additional 1,875,612 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of Nebius Group during the first quarter valued at approximately $735,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Nebius Group during the fourth quarter valued at approximately $8,111,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Insider Transactions at Nebius Group

In related news, insider Andrey Korolenko sold 500,000 shares of Nebius Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $203.24, for a total value of $101,620,000.00. Following the completion of the sale, the insider owned 585,209 shares of the company's stock, valued at $118,937,877.16. The trade was a 46.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arkadiy Volozh sold 46,627 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $235.45, for a total value of $10,978,327.15. Following the sale, the chief executive officer owned 821,662 shares of the company's stock, valued at approximately $193,460,317.90. This trade represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 685,822 shares of company stock worth $143,150,295.

Nebius Group Stock Performance

Nebius Group stock traded up $3.45 during midday trading on Friday, reaching $219.65. 11,462,026 shares of the company traded hands, compared to its average volume of 16,635,219. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of 70.86 and a beta of 4.10. The business has a 50 day moving average of $226.38 and a two-hundred day moving average of $149.41. Nebius Group N.V. has a 12 month low of $43.89 and a 12 month high of $299.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 8.33 and a quick ratio of 8.33.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.58. Nebius Group had a net margin of 95.27% and a negative return on equity of 9.11%. The company had revenue of $399.00 million for the quarter, compared to analysts' expectations of $375.13 million. The company's quarterly revenue was up 684.0% compared to the same quarter last year. As a group, research analysts predict that Nebius Group N.V. will post -1.91 earnings per share for the current year.

Analysts Set New Price Targets

NBIS has been the topic of several analyst reports. BNP Paribas Exane started coverage on Nebius Group in a research report on Tuesday, June 2nd. They issued a "neutral" rating and a $255.00 price objective on the stock. DA Davidson lowered Nebius Group from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $200.00 to $250.00 in a report on Monday, May 18th. Bank of America boosted their price target on Nebius Group from $240.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Wall Street Zen raised Nebius Group from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Citizens Jmp increased their price objective on Nebius Group from $175.00 to $270.00 and gave the company a "market outperform" rating in a research report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nebius Group has a consensus rating of "Moderate Buy" and a consensus price target of $203.25.

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.

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