Key Points
- Cerebras Systems CTO Sean Lie sold 120,000 shares at an average price of $208.97, generating $25.1 million in proceeds. The Rule 10b5-1 transaction reduced his ownership by 27.93%, leaving him with 309,569 shares.
- Lie has made several additional large sales since August, including 710,247 shares worth approximately $147.6 million, indicating substantial recent insider selling.
- Cerebras reported strong 74.3% year-over-year revenue growth to $209.9 million, but its quarterly loss of $2.98 per share missed analyst expectations. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $299.90.
Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) CTO Sean Lie sold 120,000 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $208.97, for a total transaction of $25,076,400.00. Following the sale, the chief technology officer owned 309,569 shares of the company's stock, valued at approximately $64,690,633.93. This trade represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sean Lie also recently made the following trade(s):
- On Friday, September 4th, Sean Lie sold 53,460 shares of Cerebras Systems stock. The shares were sold at an average price of $210.16, for a total transaction of $11,235,153.60.
- On Thursday, August 20th, Sean Lie sold 710,247 shares of Cerebras Systems stock. The shares were sold at an average price of $207.86, for a total transaction of $147,631,941.42.
- On Friday, August 21st, Sean Lie sold 16,293 shares of Cerebras Systems stock. The shares were sold at an average price of $210.01, for a total transaction of $3,421,692.93.
- On Tuesday, August 18th, Sean Lie sold 21,257 shares of Cerebras Systems stock. The stock was sold at an average price of $222.22, for a total value of $4,723,730.54.
Cerebras Systems Price Performance
Shares of NASDAQ:CBRS opened at $196.74 on Tuesday. Cerebras Systems Inc. has a 1 year low of $160.81 and a 1 year high of $386.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82. The company has a 50-day simple moving average of $203.85.
Cerebras Systems (NASDAQ:CBRS - Get Free Report) last issued 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 during the quarter. The firm's quarterly revenue was up 74.3% on a year-over-year basis. Equities analysts anticipate that Cerebras Systems Inc. will post -0.52 EPS for the current fiscal year.
Institutional Investors Weigh In On Cerebras Systems
Several institutional investors have recently bought and sold shares of CBRS. Silicon Valley Capital Partners bought a new position in Cerebras Systems during the 2nd quarter valued at $44,000. IFP Advisors Inc purchased a new stake in shares of Cerebras Systems in the second quarter valued at about $169,000. Integrated Wealth Concepts LLC bought a new position in shares of Cerebras Systems during the second quarter valued at about $197,000. Corient Private Wealth LP purchased a new position in Cerebras Systems during the second quarter worth about $205,000. Finally, Tiger Pacific Capital LP purchased a new position in Cerebras Systems during the second quarter worth about $221,000.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on CBRS shares. Wall Street Zen raised shares of Cerebras Systems from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. TD Cowen initiated coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a "buy" rating and a $275.00 price objective on the stock. Weiss Ratings lowered Cerebras Systems from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday. Freedom Capital upgraded Cerebras Systems to a "hold" rating in a report on Monday, June 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Cerebras Systems in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $299.90.
View Our Latest Stock Report on Cerebras Systems
About Cerebras Systems
(
Get Free Report)
Cerebras Systems is an artificial intelligence computing company that develops specialized hardware and software for training and deploying large AI models. The company's technology is designed to address the computational demands of generative AI, deep learning and other data-intensive workloads.
Its core products include the Wafer-Scale Engine, a purpose-built AI processor produced on a single silicon wafer, and the CS-3 AI supercomputer, which incorporates that processor into an integrated computing system.
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