Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) COO Dhiraj Mallick sold 36,131 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $169.28, for a total transaction of $6,116,255.68. Following the completion of the sale, the chief operating officer directly owned 33,314 shares of the company’s stock, valued at $5,639,393.92. The trade was a 52.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Dhiraj Mallick also recently made the following trade(s):
- On Friday, June 26th, Dhiraj Mallick sold 20,000 shares of Cerebras Systems stock. The stock was sold at an average price of $173.73, for a total value of $3,474,600.00.
- On Thursday, June 25th, Dhiraj Mallick sold 13,314 shares of Cerebras Systems stock. The stock was sold at an average price of $184.89, for a total value of $2,461,625.46.
Cerebras Systems Price Performance
CBRS stock traded up $34.57 during midday trading on Monday, hitting $216.16. The company’s stock 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.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Cerebras Systems from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Morgan Stanley increased their target price on shares of Cerebras Systems from $250.00 to $273.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Cerebras Systems from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. Zacks Research upgraded shares of Cerebras Systems to a “hold” rating in a research note on Tuesday, June 9th. Finally, Wedbush raised their price objective on shares of Cerebras Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cerebras Systems presently has a consensus rating of “Buy” and a consensus target price of $299.30.
Read Our Latest Research Report on CBRS
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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