Revolve Wealth Partners LLC purchased a new position in Cerebras Systems Inc. (NASDAQ:CBRS – Free Report) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 10,439 shares of the company’s stock, valued at approximately $1,854,000.
Several other large investors also recently bought and sold shares of CBRS. Wealth Enhancement Trust Services Inc. purchased a new stake in Cerebras Systems during the third quarter valued at $26,000. GK Wealth Management LLC purchased a new position in shares of Cerebras Systems in the 3rd quarter worth $31,000. Silicon Valley Capital Partners purchased a new position in shares of Cerebras Systems in the 2nd quarter worth $44,000. Mather Group LLC. bought a new stake in shares of Cerebras Systems in the 3rd quarter worth about $44,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Cerebras Systems in the 3rd quarter worth about $52,000.
Cerebras Systems Price Performance
Shares of CBRS opened at $110.82 on Monday. The company has a market capitalization of $26.33 billion and a P/E ratio of -1,385.25. The stock has a fifty day moving average of $179.68. Cerebras Systems Inc. has a 52-week low of $106.13 and a 52-week high of $386.34. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.98) EPS for the quarter, missing the consensus estimate of ($0.21) by ($2.77). The business had revenue of $209.87 million for the quarter. The business’s revenue was up 74.3% compared to the same quarter last year. As a group, research analysts anticipate that Cerebras Systems Inc. will post -0.52 earnings per share for the current fiscal year.
Cerebras Systems News Roundup
Here are the key news stories impacting Cerebras Systems this week:
- Positive Sentiment: A bullish Seeking Alpha analysis argues that the selloff has created an attractive entry point. Cerebras reported 103% year-over-year growth in second-quarter core revenue, $25.4 billion in remaining performance obligations and more than $8.6 billion in cash. Management expects 2027 core revenue to more than triple, while AMD integration could potentially increase throughput by approximately fivefold. Cerebras: I Waited For This Entry Point
- Positive Sentiment: Another analysis says Wall Street analysts continue to raise their price targets despite Cerebras Systems having fallen more than 60% since its initial public offering, implying significant potential upside if the company meets its growth forecasts. Cerebras Systems Analyst Price Target Outlook
- Neutral Sentiment: A broader AI-chip feature highlights Nvidia and Broadcom rather than Cerebras, underscoring strong industry demand but offering no direct new catalyst for CBRS. 3 Magnificent AI Chip Stocks That Could Help Set You Up for Life
- Neutral Sentiment: Market-data coverage for Cerebras Systems provided financial summary information without identifying a new company-specific development. Cerebras Systems Financial Summary
- Negative Sentiment: Zacks said Applied Optoelectronics currently has an edge over Cerebras in the AI-infrastructure race because of stronger optical demand, capacity expansion and a better earnings outlook. AAOI vs. CBRS
- Negative Sentiment: TD Cowen trimmed its price target, while a separate report cited an analyst downgrade. These actions add pressure after Cerebras missed the latest quarterly EPS consensus by a wide margin, despite 74.3% year-over-year revenue growth. Cerebras Stock Gets Price Target Trim Cerebras Stock Price Down on Analyst Downgrade
Insider Buying and Selling at Cerebras Systems
In related news, CEO Andrew D. Feldman sold 237,559 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $199.27, for a total transaction of $47,338,381.93. Following the completion of the sale, the chief executive officer directly owned 16,853 shares of the company’s stock, valued at approximately $3,358,297.31. This trade represents a 93.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Sean Lie sold 710,247 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $207.86, for a total value of $147,631,941.42. Following the transaction, the chief technology officer owned 368,926 shares of the company’s stock, valued at approximately $76,684,958.36. The trade was a 65.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,864,452 shares of company stock valued at $387,680,754.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on CBRS. Wedbush upped their target price on shares of Cerebras Systems from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. UBS Group increased their price target 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. Rosenblatt Securities reiterated a “buy” rating and issued a $300.00 price target on shares of Cerebras Systems in a research report on Wednesday, August 19th. TD Cowen reduced their price objective on Cerebras Systems from $275.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Finally, Wall Street Zen upgraded Cerebras Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.90.
Read Our Latest Stock Report on Cerebras Systems
Cerebras Systems Profile
Cerebras Systems is a technology company that develops specialized computing systems for artificial intelligence and high-performance computing. Its core product is the Wafer-Scale Engine, a processor designed to provide large-scale computing capacity and high-speed data movement for training and running AI models.
The company offers integrated AI computing systems, including the Cerebras CS series, which combines its wafer-scale processors with supporting hardware and software. Cerebras also provides access to its technology through cloud-based services, enabling businesses, research organizations and other users to develop and deploy AI applications without operating the underlying systems themselves.
Founded in 2015 and headquartered in Sunnyvale, California, Cerebras serves customers in sectors such as technology, government, scientific research and other data-intensive industries.
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