Cerebras Systems (NASDAQ:CBRS) CEO Andrew Feldman Sells 17,990 Shares of Stock

Cerebras Systems Inc. (NASDAQ:CBRS) CEO Andrew Feldman sold 17,990 shares of Cerebras Systems stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $173.06, for a total transaction of $3,113,349.40. Following the sale, the chief executive officer owned 17,990 shares in the company, valued at $3,113,349.40. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cerebras Systems Stock Performance

NASDAQ CBRS opened at $216.16 on Tuesday. Cerebras Systems Inc. has a 1 year low of $160.81 and a 1 year high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last posted its earnings results on Tuesday, June 23rd. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $193.41 million for the quarter, compared to analyst estimates of $180.70 million.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBRS. Barclays initiated coverage on Cerebras Systems in a report on Monday, June 8th. They issued an “overweight” rating and a $280.00 price objective for the company. TD Cowen assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $275.00 price target for the company. Morgan Stanley increased their price target on shares of Cerebras Systems from $250.00 to $273.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. 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 research report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Cerebras Systems to a “hold” rating in a research note on Tuesday, June 9th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $299.30.

Cerebras Systems News Summary

Here are the key news stories impacting Cerebras Systems this week:

• Positive Sentiment: Unusual options activity signaled rising speculative interest, with traders buying 63,080 call options versus a typical 39,550, suggesting some investors are betting on more upside for CBRS.
• Positive Sentiment: A new market article highlighted Cerebras as one of the “best new stocks to buy,” which may be adding to momentum and investor attention. Here’s Why Cerebras (CBRS) is Among the 10 Best New Stocks to Buy Other Than SpaceX
• Neutral Sentiment: Seeking Alpha noted the stock had fallen below its recent IPO price after weak Q1 results and margin pressure, but also pointed to longer-term upside tied to OpenAI, AWS, and broader AI inference demand. Cerebras: Gets Appealing Below IPO Price
• Negative Sentiment: Several executives disclosed stock sales, including CEO Andrew Feldman, CTO Sean Lie, COO Dhiraj Mallick, and CAO Yagnesh Patel. While the filings say the transactions were made to cover tax withholding on vested equity awards, the volume of selling may still weigh on sentiment.
• Negative Sentiment: A fraud-investigation headline from a law firm may add caution among investors, even though no wrongdoing has been established. CBRS Investors Have Opportunity to Join Cerebras Systems Inc. Fraud Investigation with the Schall Law Firm

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.