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

Sanders Morris Harris LLC bought a new position in shares of Cerebras Systems Inc. (NASDAQ:CBRS) during the third quarter, HoldingsChannel.com reports. The firm bought 5,241 shares of the company’s stock, valued at approximately $931,000.

Several other institutional investors also recently modified their holdings of the stock. Value Aligned Research Advisors LLC bought a new stake in shares of Cerebras Systems in the 2nd quarter valued at about $241,934,000. Wellington Management Group LLP acquired a new stake in shares of Cerebras Systems in the 2nd quarter valued at approximately $194,853,000. State Street Corp bought a new position in Cerebras Systems during the 2nd quarter worth approximately $105,343,000. Dragoneer Investment Group LLC bought a new position in Cerebras Systems during the 2nd quarter worth approximately $88,400,000. Finally, Montanova Capital LLC bought a new position in Cerebras Systems during the 2nd quarter worth approximately $37,990,000.

More 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

Insider Activity at Cerebras Systems

In related news, CAO Yagnesh Patel sold 1,320 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $204.50, for a total transaction of $269,940.00. Following the sale, the chief accounting officer directly owned 15,356 shares in the company, valued at $3,140,302. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Dhiraj Mallick sold 396,000 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $204.04, for a total transaction of $80,799,840.00. Following the sale, the chief operating officer owned 396,000 shares in the company, valued at approximately $80,799,840. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,864,452 shares of company stock valued at $387,680,754 over the last three months.

Analyst Ratings Changes

CBRS has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Cerebras Systems from $320.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Cerebras Systems in a report on Wednesday, August 19th. Morgan Stanley lifted their price target on shares of Cerebras Systems from $273.00 to $279.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Wedbush boosted their price target on shares of Cerebras Systems from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Cerebras Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two investment 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 stock. Based on data from MarketBeat, Cerebras Systems has a consensus rating of “Moderate Buy” and an average target price of $299.90.

Cerebras Systems Stock Performance

CBRS stock traded down $7.61 during mid-day trading on Wednesday, hitting $141.48. 11,565,074 shares of the company were exchanged, compared to its average volume of 7,421,950. The company has a current ratio of 5.82, a quick ratio of 5.80 and a debt-to-equity ratio of 0.02. The company has a market cap of $33.61 billion and a price-to-earnings ratio of -1,768.50. The business has a 50 day simple moving average of $195.06. Cerebras Systems Inc. has a 1-year low of $139.90 and a 1-year high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($2.98) earnings per share 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 firm’s quarterly revenue was up 74.3% compared to the same quarter last year. On average, equities research analysts predict that Cerebras Systems Inc. will post -0.52 EPS for the current fiscal year.

Cerebras Systems 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.