Pictet Asset Management Holding SA Buys Shares of 577,362 Nebius Group N.V. $NBIS

Pictet Asset Management Holding SA purchased a new position in shares of Nebius Group N.V. (NASDAQ:NBIS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 577,362 shares of the company’s stock, valued at approximately $48,328,000.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada bought a new position in Nebius Group during the first quarter worth $1,628,000. Millennium Management LLC acquired a new stake in Nebius Group in the 1st quarter worth $11,563,000. NewEdge Advisors LLC acquired a new stake in Nebius Group in the 1st quarter worth $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Nebius Group during the 1st quarter worth about $9,084,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Nebius Group during the 2nd quarter worth about $68,000. 21.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Arkadiy Volozh sold 33,358 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $103.73, for a total transaction of $3,460,225.34. Following the completion of the transaction, the chief executive officer owned 868,289 shares in the company, valued at $90,067,617.97. This trade represents a 3.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Marc Boroditsky sold 4,500 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $160.10, for a total value of $720,450.00. Following the completion of the sale, the executive directly owned 42,162 shares in the company, valued at approximately $6,750,136.20. This represents a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 129,740 shares of company stock worth $14,672,401.

Nebius Group Price Performance

NASDAQ:NBIS opened at $141.19 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 6.57 and a current ratio of 3.08. The company has a 50-day moving average of $120.12 and a 200-day moving average of $106.02. Nebius Group N.V. has a 52 week low of $21.45 and a 52 week high of $168.71. The company has a market capitalization of $35.55 billion, a price-to-earnings ratio of -96.71 and a beta of 4.20.

Nebius Group (NASDAQ:NBIS) last posted its earnings results on Thursday, February 12th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.27). Nebius Group had a net margin of 19.02% and a negative return on equity of 11.70%. The business had revenue of $227.70 million during the quarter, compared to the consensus estimate of $246.05 million. As a group, equities research analysts anticipate that Nebius Group N.V. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBIS has been the subject of several research reports. Compass Point started coverage on shares of Nebius Group in a research note on Wednesday, February 18th. They issued a “buy” rating and a $150.00 target price for the company. DA Davidson boosted their price target on Nebius Group from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wall Street Zen cut Nebius Group from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Bank of America assumed coverage on Nebius Group in a research report on Tuesday, March 24th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Citigroup began coverage on Nebius Group in a report on Monday, March 16th. They set a “buy” rating and a $169.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.75.

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.