Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) CEO Andrew Feldman sold 37,441 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $210.46, for a total value of $7,879,832.86. Following the sale, the chief executive officer directly owned 16,853 shares of the company's stock, valued at $3,546,882.38. The trade was a 68.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cerebras Systems Stock Down 4.9%
NASDAQ CBRS opened at $199.77 on Wednesday. Cerebras Systems Inc. has a 1 year low of $160.81 and a 1 year high of $386.34. The business's fifty day moving average price is $202.92.
Cerebras Systems (NASDAQ:CBRS - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($2.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($2.77). The business had revenue of $209.87 million for the quarter. The company's revenue for the quarter was up 74.3% compared to the same quarter last year. On average, equities research analysts expect that Cerebras Systems Inc. will post -0.52 earnings per share for the current year.
Institutional Investors Weigh In On Cerebras Systems
A number of institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in Cerebras Systems during the second quarter worth about $169,000. Corient Private Wealth LP acquired a new position in Cerebras Systems in the 2nd quarter valued at approximately $205,000. Tiger Pacific Capital LP bought a new stake in shares of Cerebras Systems in the 2nd quarter worth approximately $221,000. Carlson Financial Inc. bought a new stake in shares of Cerebras Systems in the 2nd quarter worth approximately $322,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Cerebras Systems during the 2nd quarter worth approximately $345,000.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on CBRS. Zacks Research upgraded Cerebras Systems to a "hold" rating in a research note on Tuesday, June 9th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Cerebras Systems in a report on Wednesday, August 19th. Freedom Capital raised Cerebras Systems to a "hold" rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Cerebras Systems from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Wedbush boosted their target price on shares of Cerebras Systems from $280.00 to $290.00 and gave the stock an "outperform" rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $299.90.
View Our Latest Stock Analysis on CBRS
Cerebras Systems Company Profile
(
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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