Key Points
- Cerebras Systems CAO Yagnesh Patel sold 6,079 shares on June 25 at an average price of $171.53, totaling about $1.04 million. The filing says the sale was made to cover tax withholding tied to vested equity awards.
- Patel also made additional recent sales of 3,954 shares on June 26 and 46 shares on June 25, further reducing his ownership in the company. After the transaction, he held 4,000 shares valued at roughly $686,120.
- CBRS has been trading higher and posted better-than-expected quarterly results, with earnings of -$0.04 per share versus -$0.14 expected and revenue of $193.41 million versus $180.70 million expected. Analysts remain broadly bullish, with a consensus rating of “Buy” and a price target around $299.30.
Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) CAO Yagnesh Patel sold 3,954 shares of Cerebras Systems stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $174.03, for a total value of $688,114.62. Following the completion of the transaction, the chief accounting officer directly owned 3,954 shares of the company's stock, valued at approximately $688,114.62. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Yagnesh Patel also recently made the following trade(s):
- On Thursday, June 25th, Yagnesh Patel sold 6,079 shares of Cerebras Systems stock. The shares were sold at an average price of $171.53, for a total value of $1,042,730.87.
- On Thursday, June 25th, Yagnesh Patel sold 46 shares of Cerebras Systems stock. The stock was sold at an average price of $189.36, for a total value of $8,710.56.
Cerebras Systems Stock Up 19.0%
Shares of CBRS stock opened at $216.16 on Tuesday. Cerebras Systems Inc. has a fifty-two week low of $160.81 and a fifty-two week high of $386.34.
Cerebras Systems (NASDAQ:CBRS - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The business had revenue of $193.41 million for the quarter, compared to the consensus estimate of $180.70 million.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $300.00 target price on shares of Cerebras Systems in a research note on Wednesday, June 24th. UBS Group upped their price objective on shares of Cerebras Systems from $300.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Morgan Stanley increased their price objective on shares of Cerebras Systems from $250.00 to $273.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Mizuho began coverage on Cerebras Systems in a research report on Monday, June 8th. They issued an "outperform" rating and a $300.00 target price for the company. Finally, Wedbush upped their price target on Cerebras Systems from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cerebras Systems currently has a consensus rating of "Buy" and an average target price of $299.30.
Check Out Our Latest Analysis on Cerebras Systems
Key Stories Impacting Cerebras Systems
Here are the key news stories impacting Cerebras Systems this week:
- Positive Sentiment: Unusual options activity signaled rising speculative interest, with traders buying 63,080 call options versus a typical 39,550, suggesting some investors are betting on more upside for CBRS.
- Positive Sentiment: A new market article highlighted Cerebras as one of the “best new stocks to buy,” which may be adding to momentum and investor attention. Here’s Why Cerebras (CBRS) is Among the 10 Best New Stocks to Buy Other Than SpaceX
- Neutral Sentiment: Seeking Alpha noted the stock had fallen below its recent IPO price after weak Q1 results and margin pressure, but also pointed to longer-term upside tied to OpenAI, AWS, and broader AI inference demand. Cerebras: Gets Appealing Below IPO Price
- Negative Sentiment: Several executives disclosed stock sales, including CEO Andrew Feldman, CTO Sean Lie, COO Dhiraj Mallick, and CAO Yagnesh Patel. While the filings say the transactions were made to cover tax withholding on vested equity awards, the volume of selling may still weigh on sentiment.
- Negative Sentiment: A fraud-investigation headline from a law firm may add caution among investors, even though no wrongdoing has been established. CBRS Investors Have Opportunity to Join Cerebras Systems Inc. Fraud Investigation with the Schall Law Firm
About Cerebras Systems
(
Get Free Report)
Cerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.
In addition to its AI chips, Cerebras offers systems and related software tools that support researchers and enterprises working with machine learning models.
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