5,241 Shares of Cerebras Systems Inc. $CBRS Purchased by Sanders Morris Harris LLC

Sanders Morris Harris LLC acquired a new position in shares of Cerebras Systems Inc. (NASDAQ:CBRS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,241 shares of the company’s stock, valued at approximately $931,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBRS. Value Aligned Research Advisors LLC bought a new position in shares of Cerebras Systems in the second quarter worth about $241,934,000. Wellington Management Group LLP bought a new stake in shares of Cerebras Systems during the second quarter valued at approximately $194,853,000. State Street Corp bought a new stake in shares of Cerebras Systems during the second quarter valued at approximately $105,343,000. Dragoneer Investment Group LLC bought a new stake in shares of Cerebras Systems during the second quarter valued at approximately $88,400,000. Finally, Montanova Capital LLC acquired a new stake in shares of Cerebras Systems in the second quarter valued at approximately $37,990,000.

Insider Buying and Selling at Cerebras Systems

In related news, COO Dhiraj Mallick sold 396,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $204.04, for a total value of $80,799,840.00. Following the transaction, the chief operating officer directly owned 396,000 shares in the company, valued at $80,799,840. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sean Lie sold 120,000 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $208.97, for a total transaction of $25,076,400.00. Following the completion of the transaction, the chief technology officer directly owned 309,569 shares in the company, valued at approximately $64,690,633.93. The trade was a 27.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,864,452 shares of company stock valued at $387,680,754 over the last 90 days.

Cerebras Systems Stock Performance

NASDAQ:CBRS traded down $7.61 on Wednesday, hitting $141.48. 11,565,074 shares of the stock were exchanged, compared to its average volume of 7,421,950. The firm has a market capitalization of $33.61 billion and a PE ratio of -1,768.50. Cerebras Systems Inc. has a 52 week low of $139.90 and a 52 week high of $386.34. The company has a quick ratio of 5.80, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $195.06.

Cerebras Systems (NASDAQ:CBRS) last released its earnings results on Wednesday, August 12th. The company reported ($2.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($2.77). The business had revenue of $209.87 million for the quarter. The company’s revenue for the quarter was up 74.3% on a year-over-year basis. As a group, equities research analysts predict that Cerebras Systems Inc. will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings cut shares of Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. Mizuho reduced their price objective on Cerebras Systems from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Cerebras Systems in a research report on Wednesday, August 19th. Rosenblatt Securities reissued a “buy” rating and issued a $300.00 target price on shares of Cerebras Systems in a research note on Wednesday, August 19th. Finally, Freedom Capital raised Cerebras Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.90.

Key Cerebras Systems News

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

• Positive Sentiment: A Wall Street analyst believes Cerebras’ stock could potentially double, despite its decline from the initial public offering and concerns about insider selling and competitive losses. Cerebras Systems Cratered by 20% This Year
• Positive Sentiment: Cerebras is attempting to convert a reported $25.4 billion backlog into high-margin growth, which could support significant future revenue if the company can fulfill orders efficiently. Can Cerebras Turn Its $25.4B Backlog Into High-Margin Growth?
• Positive Sentiment: CEO Andrew Feldman said the market may be approaching a future in which households use dedicated AI appliances, highlighting a potentially large long-term opportunity for Cerebras’ wafer-scale AI systems. Cerebras CEO on Personal AI Assistants
• Positive Sentiment: A comparison with SoundHound AI indicates Cerebras generates greater overall revenue and has maintained an upward growth trajectory, although its quarterly results have been less consistent. Cerebras Systems vs. SoundHound AI
• Neutral Sentiment: Investors are also comparing Cerebras’ rapid revenue growth and proprietary AI infrastructure with BigBear.ai’s longer-term government and defense contracts, underscoring different risk-and-growth profiles rather than a direct catalyst for CBRS. BigBear.ai vs. Cerebras Systems
• Negative Sentiment: Up to 19.4 million shares may become eligible for sale under Cerebras’ staggered IPO lock-up, creating a significant potential supply overhang after the stock reached a record low. Cerebras Stock Share Unlock
• Negative Sentiment: Reports that OpenAI assigned a marquee workload to a rival, alongside Microsoft-related chip news, intensified concerns about competition and customer concentration. Cerebras Stock Falls on OpenAI and Microsoft Chip News
• Negative Sentiment: The stock has fallen sharply from its first-day high, while reports of substantial insider selling have further weakened investor confidence. Cerebras Stock Hits Record Low

Cerebras Systems Company Profile

Cerebras Systems is an artificial intelligence computing company that develops specialized hardware and software for training and deploying large AI models. The company’s technology is designed to address the computational demands of generative AI, deep learning and other data-intensive workloads.

Its core products include the Wafer-Scale Engine, a purpose-built AI processor produced on a single silicon wafer, and the CS-3 AI supercomputer, which incorporates that processor into an integrated computing system.