Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) CAO Yagnesh Patel sold 3,954 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $174.03, for a total transaction of $688,114.62. Following the completion of the sale, the chief accounting officer owned 3,954 shares in the company, valued at $688,114.62. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Yagnesh Patel also recently made the following trade(s):
- On Thursday, June 25th, Yagnesh Patel sold 6,079 shares of Cerebras Systems stock. The stock was sold at an average price of $171.53, for a total value of $1,042,730.87.
- On Thursday, June 25th, Yagnesh Patel sold 46 shares of Cerebras Systems stock. The shares were sold at an average price of $189.36, for a total value of $8,710.56.
Cerebras Systems Stock Up 19.0%
CBRS stock traded up $34.57 on Monday, reaching $216.16. The company had a trading volume of 13,221,676 shares, compared to its average volume of 8,107,127. Cerebras Systems Inc. has a 1 year low of $160.81 and a 1 year high of $386.34.
Analyst Ratings Changes
CBRS has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Cerebras Systems in a research note on Wednesday, June 24th. Barclays assumed coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set an “overweight” rating and a $280.00 price target on the stock. Mizuho started coverage on shares of Cerebras Systems in a report on Monday, June 8th. They set an “outperform” rating and a $300.00 price target for the company. Wedbush boosted their price objective on shares of Cerebras Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Cerebras Systems from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $299.30.
View Our Latest Research Report on CBRS
About Cerebras Systems
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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