Cerebras Systems (NASDAQ:CBRS) CAO Yagnesh Patel Sells 6,079 Shares

Cerebras Systems Inc. (NASDAQ:CBRS) CAO Yagnesh Patel sold 6,079 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $171.53, for a total transaction of $1,042,730.87. Following the completion of the transaction, the chief accounting officer owned 4,000 shares of the company’s stock, valued at $686,120. This represents a 60.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Yagnesh Patel also recently made the following trade(s):

• On Friday, June 26th, Yagnesh Patel sold 3,954 shares of Cerebras Systems stock. The stock was sold at an average price of $174.03, for a total transaction of $688,114.62.
• On Thursday, June 25th, Yagnesh Patel sold 46 shares of Cerebras Systems stock. The stock was sold at an average price of $189.36, for a total transaction of $8,710.56.

Cerebras Systems Stock Performance

Cerebras Systems stock opened at $216.16 on Tuesday. Cerebras Systems Inc. has a 12-month low of $160.81 and a 12-month high of $386.34.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CBRS shares. TD Cowen assumed coverage on Cerebras Systems in a research note on Monday, June 8th. They issued a “buy” rating and a $275.00 price objective on the stock. Wall Street Zen raised Cerebras Systems from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. Morgan Stanley lifted their target price on Cerebras Systems from $250.00 to $273.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $300.00 price target on shares of Cerebras Systems in a research report on Wednesday, June 24th. Finally, Citigroup initiated coverage on shares of Cerebras Systems in a research note 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 one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $299.30.

Key Headlines Impacting Cerebras Systems

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

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.