Cerebras Systems (NASDAQ:CBRS) CAO Yagnesh Patel Sells 3,954 Shares of Stock

Cerebras Systems Inc. (NASDAQ:CBRS) CAO Yagnesh Patel sold 3,954 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $174.03, for a total transaction of $688,114.62. Following the transaction, the chief accounting officer owned 3,954 shares of the company’s stock, valued at approximately $688,114.62. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 25th, Yagnesh Patel sold 6,079 shares of Cerebras Systems stock. The shares were sold at an average price of $171.53, for a total transaction of $1,042,730.87.
• On Thursday, June 25th, Yagnesh Patel sold 46 shares of Cerebras Systems stock. The shares were sold at an average price of $189.36, for a total transaction of $8,710.56.

Cerebras Systems Price Performance

NASDAQ CBRS opened at $216.16 on Tuesday. Cerebras Systems Inc. has a fifty-two week low of $160.81 and a fifty-two week high of $386.34.

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

Analysts Set New Price Targets

A number of analysts have recently commented on CBRS shares. Morgan Stanley lifted their price target on Cerebras Systems from $250.00 to $273.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Craig Hallum assumed coverage on Cerebras Systems in a research note on Monday, June 8th. They issued a “buy” rating and a $325.00 price objective for the company. Wedbush raised their price objective on shares of Cerebras Systems from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and set a $300.00 target price on shares of Cerebras Systems in a research report on Wednesday, June 24th. Finally, Zacks Research raised shares of Cerebras Systems to a “hold” rating in a report on Tuesday, June 9th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $299.30.

More Cerebras Systems News

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.