B. Riley Wealth Advisors Inc. Cuts Stake in Nebius Group N.V. $NBIS

B. Riley Wealth Advisors Inc. decreased its stake in Nebius Group N.V. (NASDAQ:NBIS) by 43.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,738 shares of the company’s stock after selling 5,184 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Nebius Group were worth $756,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Orbis Allan Gray Ltd lifted its position in Nebius Group by 12.4% during the 2nd quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock worth $976,681,000 after acquiring an additional 1,949,708 shares in the last quarter. Rovida Advisors Inc. purchased a new stake in shares of Nebius Group during the second quarter valued at approximately $96,223,000. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Nebius Group in the second quarter valued at $49,337,000. JPMorgan Chase & Co. grew its holdings in Nebius Group by 297.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 848,336 shares of the company’s stock valued at $46,938,000 after purchasing an additional 634,838 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Nebius Group during the 1st quarter worth $11,563,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

Analysts Set New Price Targets

NBIS has been the subject of a number of analyst reports. Wall Street Zen cut shares of Nebius Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Morgan Stanley assumed coverage on Nebius Group in a report on Thursday, January 15th. They set an “equal weight” rating and a $126.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and issued a $130.00 target price on shares of Nebius Group in a research report on Thursday, November 13th. DA Davidson reissued a “buy” rating and set a $150.00 price target on shares of Nebius Group in a research report on Wednesday, November 12th. Finally, Citizens Jmp assumed coverage on shares of Nebius Group in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $175.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nebius Group currently has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Nebius Group Stock Up 7.0%

NBIS opened at $97.87 on Wednesday. The company’s 50-day moving average price is $93.66 and its 200 day moving average price is $90.29. Nebius Group N.V. has a fifty-two week low of $18.31 and a fifty-two week high of $141.10. The firm has a market cap of $24.64 billion, a price-to-earnings ratio of -127.10 and a beta of 4.00.

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.