Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) COO Dhiraj Mallick sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $206.51, for a total value of $2,065,100.00. Following the sale, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,065,100. 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 can be accessed through this hyperlink.
Dhiraj Mallick also recently made the following trade(s):
- On Thursday, June 25th, Dhiraj Mallick sold 36,131 shares of Cerebras Systems stock. The stock was sold at an average price of $169.28, for a total value of $6,116,255.68.
- On Friday, June 26th, Dhiraj Mallick sold 20,000 shares of Cerebras Systems stock. The shares were 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 shares were sold at an average price of $184.89, for a total value of $2,461,625.46.
Cerebras Systems Price Performance
NASDAQ:CBRS opened at $204.86 on Friday. Cerebras Systems Inc. has a 12-month low of $160.81 and a 12-month high of $386.34.
Trending Headlines about Cerebras Systems
Here are the key news stories impacting Cerebras Systems this week:
- Negative Sentiment: Multiple law firms, including Kaplan Fox, Glancy Prongay Wolke & Rotter, Howard G. Smith, and Frank R. Cruz, announced investigations into Cerebras Systems over possible securities-law violations. These announcements can weigh on investor confidence because they raise legal and disclosure-risk concerns, even though no wrongdoing has been proven. Kaplan Fox Announces an Investigation Into Cerebras Systems Inc. (NASDAQ: CBRS) for Possible Securities Law Violations
- Negative Sentiment: COO Dhiraj Mallick sold 10,000 shares, following other recent insider sales. Repeated executive selling can be read as a cautious signal by traders and may add near-term selling pressure on CBRS. Dhiraj Mallick Sells 10,000 Shares of Cerebras Systems (NASDAQ:CBRS) Stock
- Neutral Sentiment: Analyst coverage remains generally upbeat, with Cerebras Systems carrying a “Moderate Buy” consensus rating. That support may help limit downside, but it is not enough on its own to offset the legal and insider-sale headlines. Cerebras Systems Inc. (NASDAQ:CBRS) Receives Consensus Recommendation of “Moderate Buy” from Analysts
Wall Street Analyst Weigh In
CBRS has been the topic of several analyst reports. Freedom Capital raised shares of Cerebras Systems to a “hold” rating in a report on Monday, June 29th. Zacks Research raised shares of Cerebras Systems to a “hold” rating in a report on Tuesday, June 9th. Wedbush increased their price target 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. Barclays assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued an “overweight” rating and a $280.00 price objective for the company. Finally, Citigroup initiated coverage on Cerebras Systems in a report on Monday, June 8th. They issued a “buy” rating and a $340.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.30.
View Our Latest 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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