Cerebras Systems Inc. $CBRS Stock: NFSG Corp Boosts Stake

NFSG Corp raised its stake in shares of Cerebras Systems Inc. (NASDAQ:CBRS) by 1,483.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,821 shares of the company’s stock after acquiring an additional 8,264 shares during the period. NFSG Corp’s holdings in Cerebras Systems were worth $1,567,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Value Aligned Research Advisors LLC bought a new stake in shares of Cerebras Systems during the second quarter valued at approximately $241,934,000. Wellington Management Group LLP purchased a new position in shares of Cerebras Systems in the second quarter worth $194,853,000. State Street Corp bought a new position in shares of Cerebras Systems during the second quarter worth $105,343,000. Dragoneer Investment Group LLC bought a new position in shares of Cerebras Systems during the second quarter worth $88,400,000. Finally, Montanova Capital LLC bought a new position in shares of Cerebras Systems during the second quarter worth $37,990,000.

Cerebras Systems Stock Up 0.5%

NASDAQ:CBRS opened at $142.17 on Friday. Cerebras Systems Inc. has a 1 year low of $133.88 and a 1 year high of $386.34. The business has a 50 day moving average price of $193.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82.

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

Insider Activity at Cerebras Systems

In other Cerebras Systems news, CAO Yagnesh Patel sold 1,320 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $204.50, for a total transaction of $269,940.00. Following the completion of the transaction, the chief accounting officer owned 15,356 shares in the company, valued at $3,140,302. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Dhiraj Mallick sold 396,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $204.04, for a total transaction of $80,799,840.00. Following the transaction, the chief operating officer owned 396,000 shares of the company’s stock, valued at $80,799,840. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,864,452 shares of company stock valued at $387,680,754 over the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Freedom Capital raised shares of Cerebras Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Cerebras Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. UBS Group increased their price objective on shares of Cerebras Systems from $320.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Mizuho cut their price objective on Cerebras Systems from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.90.

Cerebras Systems Profile

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.