Salem Investment Counselors Inc. Boosts Stock Position in Nebius Group N.V. $NBIS

Salem Investment Counselors Inc. boosted its stake in shares of Nebius Group N.V. (NASDAQ:NBIS) by 2,272.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,930 shares of the company’s stock after acquiring an additional 25,795 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Nebius Group were worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in shares of Nebius Group in the 1st quarter worth $3,217,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nebius Group in the 1st quarter valued at approximately $443,000. Aberdeen Group plc acquired a new position in Nebius Group during the 1st quarter worth approximately $1,121,000. Hsbc Holdings PLC purchased a new position in shares of Nebius Group during the 1st quarter worth approximately $3,330,000. Finally, Greenwoods Asset Management Hong Kong Ltd. purchased a new position in shares of Nebius Group during the 1st quarter worth approximately $46,822,000. 21.90% of the stock is owned by institutional investors and hedge funds.

Nebius Group Trading Down 0.2%

Shares of NBIS opened at $80.95 on Wednesday. The stock has a market cap of $20.38 billion, a P/E ratio of -105.13 and a beta of 3.83. The company has a 50-day moving average of $105.11 and a two-hundred day moving average of $80.56. Nebius Group N.V. has a 12-month low of $18.31 and a 12-month high of $141.10.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NBIS shares. CICC Research began coverage on Nebius Group in a report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nebius Group in a research note on Monday. DA Davidson reiterated a “buy” rating and issued a $150.00 price objective on shares of Nebius Group in a research note on Wednesday, November 12th. BWS Financial restated a “buy” rating and set a $130.00 target price on shares of Nebius Group in a research report on Thursday, November 13th. Finally, Wall Street Zen downgraded shares of Nebius Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $144.71.

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.