Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) CEO Andrew Feldman sold 17,990 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $173.06, for a total transaction of $3,113,349.40. Following the completion of the transaction, the chief executive officer owned 17,990 shares of the company’s stock, valued at $3,113,349.40. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Cerebras Systems Stock Up 2.2%
Shares of CBRS opened at $221.00 on Wednesday. Cerebras Systems Inc. has a 52 week low of $160.81 and a 52 week high of $386.34.
Cerebras Systems (NASDAQ:CBRS – Get Free Report) last released its earnings results on Tuesday, June 23rd. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $193.41 million during the quarter, compared to analyst estimates of $180.70 million.
Key Headlines Impacting Cerebras Systems
- Positive Sentiment: Unusual call option buying pointed to rising speculative interest in Cerebras Systems (CBRS), which can support the stock as traders bet on more upside.
- Positive Sentiment: Recent media coverage highlighted Cerebras as one of the “best new stocks to buy,” reinforcing investor attention around the AI chipmaker. Here’s Why Cerebras (CBRS) is Among the 10 Best New Stocks to Buy Other Than SpaceX
- Positive Sentiment: The company’s latest earnings beat expectations, with revenue and EPS both coming in better than analysts expected, which remains a key reason for the stock’s recent strength.
- Neutral Sentiment: Several analysts recently raised price targets and reiterated bullish ratings on CBRS, which helps sentiment but does not by itself change fundamentals.
- Negative Sentiment: A series of insider sales by the CEO, CTO, COO, and CAO may pressure sentiment, even though the company said the sales were tied to tax withholding on vested equity awards.
- Negative Sentiment: A law firm’s investor alert about possible claims involving Cerebras adds some caution, though no wrongdoing has been established. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cerebras Systems Inc. – CBRS
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CBRS. Zacks Research upgraded shares of Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. UBS Group lifted their price target on shares of Cerebras Systems from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Mizuho started coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set an “outperform” rating and a $300.00 price target for the company. Citigroup initiated coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued a “buy” rating and a $340.00 price objective on the stock. Finally, TD Cowen initiated coverage on shares of Cerebras Systems in a report on Monday, June 8th. They set a “buy” rating and a $275.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cerebras Systems presently has an average rating of “Buy” and a consensus price target of $299.30.
Check Out Our Latest Stock Analysis on Cerebras Systems
Cerebras Systems Company Profile
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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