Fifth Third Bancorp Buys Shares of 6,144 Nebius Group N.V. (NASDAQ:NBIS)

Fifth Third Bancorp purchased a new position in shares of Nebius Group N.V. (NASDAQ:NBIS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,144 shares of the company’s stock, valued at approximately $130,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Centaurus Financial Inc. purchased a new stake in shares of Nebius Group in the 4th quarter worth $9,505,000. GAMMA Investing LLC purchased a new stake in Nebius Group in the first quarter worth about $80,000. Whipplewood Advisors LLC purchased a new stake in Nebius Group in the first quarter worth about $36,000. Intellectus Partners LLC bought a new position in shares of Nebius Group in the first quarter worth about $570,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Nebius Group during the 1st quarter valued at about $453,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Price Performance

NBIS stock opened at $48.32 on Friday. Nebius Group N.V. has a 1-year low of $14.09 and a 1-year high of $55.04. The business has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $32.23. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of -84.77 and a beta of 3.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NBIS shares. Arete Research upgraded Nebius Group to a “strong-buy” rating in a research note on Thursday, June 5th. Arete began coverage on shares of Nebius Group in a report on Thursday, June 5th. They set a “buy” rating and a $84.00 price target on the stock. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the stock an “outperform” rating in a research note on Wednesday, May 21st. DA Davidson raised their price objective on shares of Nebius Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. Finally, BWS Financial upped their target price on shares of Nebius Group from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $66.50.

About Nebius Group

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.