Cerebras Systems (NASDAQ:CBRS) CTO Sean Lie Sells 10,033 Shares

Cerebras Systems Inc. (NASDAQ:CBRS) CTO Sean Lie sold 10,033 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $170.07, for a total transaction of $1,706,312.31. Following the transaction, the chief technology officer owned 10,033 shares of the company’s stock, valued at $1,706,312.31. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cerebras Systems Stock Up 19.0%

Shares of NASDAQ:CBRS opened at $216.16 on Tuesday. Cerebras Systems Inc. has a 52 week low of $160.81 and a 52 week high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last released its quarterly earnings data on Tuesday, June 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. The firm had revenue of $193.41 million for the quarter, compared to analysts’ expectations of $180.70 million.

Cerebras Systems News Roundup

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBRS shares. Zacks Research raised Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. UBS Group increased their price objective on Cerebras Systems from $300.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Citigroup assumed coverage on Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $340.00 target price for the company. Barclays initiated coverage on Cerebras Systems in a report on Monday, June 8th. They issued an “overweight” rating and a $280.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Cerebras Systems from $250.00 to $273.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. 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’s stock. Based on data from MarketBeat.com, Cerebras Systems currently has an average rating of “Buy” and an average target price of $299.30.

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.