Nebius Group N.V. (NBIS) shares fell more than 14% on Friday. Broader market pressure and significant insider stock sales drove the decline.
A stronger-than-expected U.S. jobs report fueled concerns that the Federal Reserve will maintain high interest rates. This outlook reduced investor appetite for high-growth technology stocks.
The company’s CTO, CFO, and CRO sold shares in early June. An NVIDIA director sold 1.31 million shares between June 2 and June 4. This transaction totaled approximately $221 million.
The selloff occurred despite Nebius reporting 684% year-over-year revenue growth. The company also recently secured major contracts with Microsoft and Meta.