Value Aligned Research Advisors LLC Takes $241.93 Million Position in Cerebras Systems Inc. $CBRS

Value Aligned Research Advisors LLC purchased a new stake in Cerebras Systems Inc. (NASDAQ:CBRS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,094,722 shares of the company’s stock, valued at approximately $241,934,000. Cerebras Systems comprises 0.6% of Value Aligned Research Advisors LLC’s holdings, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Tiger Pacific Capital LP acquired a new stake in Cerebras Systems in the 2nd quarter valued at about $221,000. TD Waterhouse Canada Inc. acquired a new position in shares of Cerebras Systems during the second quarter worth approximately $630,000. Proficio Capital Partners LLC acquired a new position in shares of Cerebras Systems during the second quarter worth approximately $1,383,000. Situational Awareness LP bought a new stake in shares of Cerebras Systems during the second quarter valued at approximately $2,210,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Cerebras Systems in the second quarter valued at approximately $4,323,000.

Insiders Place Their Bets

In other news, Director Eric Vishria sold 68,268 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $229.77, for a total transaction of $15,685,938.36. Following the completion of the transaction, the director directly owned 31,383 shares in the company, valued at approximately $7,210,871.91. The trade was a 68.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Yagnesh Patel sold 4,574 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $222.22, for a total value of $1,016,434.28. Following the completion of the sale, the chief accounting officer directly owned 16,676 shares of the company’s stock, valued at approximately $3,705,740.72. This trade represents a 21.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,291,278 shares of company stock valued at $265,966,662 in the last ninety days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CBRS. Zacks Research upgraded Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. Barclays started coverage on Cerebras Systems in a research note on Monday, June 8th. They set an “overweight” rating and a $280.00 price target on the stock. Morgan Stanley raised their price target on Cerebras Systems from $273.00 to $279.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Wall Street Zen raised Cerebras Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Rosenblatt Securities restated a “buy” rating and set a $300.00 target price on shares of Cerebras Systems in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.90.

Cerebras Systems Price Performance

CBRS opened at $186.67 on Friday. The stock’s fifty day simple moving average is $205.43. Cerebras Systems Inc. has a 52 week low of $160.81 and a 52 week high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last posted its quarterly 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 firm had revenue of $209.87 million during the quarter. Cerebras Systems’s revenue for the quarter was up 74.3% compared to the same quarter last year. Equities analysts expect that Cerebras Systems Inc. will post -0.52 EPS for the current year.

Cerebras Systems 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.