Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) CTO Sean Lie sold 60,000 shares of the firm's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $115.79, for a total transaction of $6,947,400.00. Following the completion of the transaction, the chief technology officer directly owned 263,592 shares in the company, valued at approximately $30,521,317.68. This represents a 18.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 25th, Sean Lie sold 120,000 shares of Cerebras Systems stock. The shares were sold at an average price of $208.97, for a total transaction of $25,076,400.00.
- On Friday, September 4th, Sean Lie sold 53,460 shares of Cerebras Systems stock. The stock was 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 stock was 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 value of $3,421,692.93.
- On Tuesday, August 18th, Sean Lie sold 21,257 shares of Cerebras Systems stock. The shares were sold at an average price of $222.22, for a total value of $4,723,730.54.
Cerebras Systems Price Performance
NASDAQ:CBRS opened at $112.56 on Thursday. The firm has a 50-day moving average of $172.84. The company has a quick ratio of 5.80, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Cerebras Systems Inc. has a 12 month low of $105.36 and a 12 month high of $386.34. The stock has a market capitalization of $26.74 billion and a price-to-earnings ratio of -1,407.00.
Cerebras Systems (NASDAQ:CBRS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.98) EPS 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 business's revenue for the quarter 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 year.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. TD Cowen reduced their price target on Cerebras Systems from $275.00 to $175.00 and set a "buy" rating on the stock in a research report on Monday, October 19th. Freedom Capital upgraded Cerebras Systems from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Wedbush increased their price objective on shares of Cerebras Systems from $280.00 to $290.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Rosenblatt Securities reiterated a "buy" rating and set a $300.00 price objective on shares of Cerebras Systems in a research note on Wednesday, August 19th. Finally, Morgan Stanley lifted their price objective on shares of Cerebras Systems from $273.00 to $279.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cerebras Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.90.
Read Our Latest Stock Analysis on CBRS
Cerebras Systems News Summary
Here are the key news stories impacting Cerebras Systems this week:
- Positive Sentiment: Cerebras announced that its AI inference technology will be available through Oracle Cloud Infrastructure, expanding access to its Wafer-Scale Engine for AI labs, enterprises, and developers. The deal gives Cerebras distribution through a major cloud provider and could support future usage and revenue growth. Cerebras and Oracle Team Up to Bring Cerebras AI Inference to Oracle Cloud Infrastructure
- Positive Sentiment: The Oracle collaboration follows partnerships with other major technology companies and strengthens Cerebras’ positioning as an alternative or complement to conventional GPUs for high-speed AI inference. The announcement initially helped drive a sharp rally in CBRS shares. Why Cerebras Systems Stock Jumped on Tuesday
- Neutral Sentiment: Cerebras CTO Sean Lie sold 60,000 shares worth approximately $6.95 million. The transaction reduced his holdings by 18.54%, but it was executed under a pre-arranged Rule 10b5-1 trading plan, making it a weaker insider-selling signal than an unexpected discretionary sale. SEC insider transaction filing
- Negative Sentiment: Culper Research issued a short report questioning the expected lifespan of Cerebras’ chips. The report raises concerns about product durability and long-term economics, prompting selling pressure and increasing skepticism around the company’s valuation. Cerebras Stock Drops After Culper Research Report
- Negative Sentiment: Approximately 19.4 million additional shares became eligible to trade following a lockup expiration. The increase in available supply can create dilution and selling-pressure concerns, particularly after the recent Oracle-driven rally. Cerebras Oracle Cloud Lockup Wave
Institutional Trading of Cerebras Systems
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Value Aligned Research Advisors LLC bought a new position in Cerebras Systems during the 2nd quarter valued at $241,934,000. Wellington Management Group LLP acquired a new position in Cerebras Systems during the 2nd quarter worth $194,853,000. State Street Corp acquired a new position in Cerebras Systems during the 2nd quarter worth $105,343,000. Dragoneer Investment Group LLC bought a new stake in shares of Cerebras Systems in the 2nd quarter worth about $88,400,000. Finally, Montanova Capital LLC bought a new stake in shares of Cerebras Systems in the 2nd quarter worth about $37,990,000.
Cerebras Systems Company Profile
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Get Free Report)
Cerebras Systems is a technology company that develops specialized computing systems for artificial intelligence and high-performance computing. Its core product is the Wafer-Scale Engine, a processor designed to provide large-scale computing capacity and high-speed data movement for training and running AI models.
The company offers integrated AI computing systems, including the Cerebras CS series, which combines its wafer-scale processors with supporting hardware and software. Cerebras also provides access to its technology through cloud-based services, enabling businesses, research organizations and other users to develop and deploy AI applications without operating the underlying systems themselves.
Founded in 2015 and headquartered in Sunnyvale, California, Cerebras serves customers in sectors such as technology, government, scientific research and other data-intensive industries.
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