Cerebras Systems Inc. $CBRS Position Boosted by Vestor Capital LLC

Vestor Capital LLC lifted its position in Cerebras Systems Inc. (NASDAQ:CBRS) by 14,652.9% during the third quarter, Holdings Channel reports. The institutional investor owned 76,715 shares of the company’s stock after buying an additional 76,195 shares during the quarter. Vestor Capital LLC’s holdings in Cerebras Systems were worth $13,628,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Trust Services Inc. bought a new position in Cerebras Systems during the third quarter valued at about $26,000. GK Wealth Management LLC acquired a new position in Cerebras Systems during the third quarter worth about $31,000. Blue Bell Private Wealth Management LLC bought a new stake in Cerebras Systems in the third quarter worth about $31,000. Torren Management LLC bought a new position in shares of Cerebras Systems during the 3rd quarter valued at about $39,000. Finally, Silicon Valley Capital Partners bought a new position in shares of Cerebras Systems during the 2nd quarter valued at about $44,000.

Cerebras Systems Trading Up 7.8%

Shares of CBRS opened at $96.70 on Tuesday. The business has a 50-day moving average of $157.63. The stock has a market cap of $22.97 billion and a PE ratio of -1,208.75. Cerebras Systems Inc. has a 1-year low of $77.84 and a 1-year high of $386.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 5.80.

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

Insider Buying and Selling

In other news, CTO Sean Lie sold 710,247 shares of Cerebras Systems stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $207.86, for a total value of $147,631,941.42. Following the transaction, the chief technology officer directly owned 368,926 shares of the company’s stock, valued at $76,684,958.36. This trade represents a 65.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven Vassallo sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $210.30, for a total transaction of $10,515,000.00. Following the sale, the director owned 171,977 shares in the company, valued at $36,166,763.10. This represents a 22.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,924,452 shares of company stock valued at $394,628,154.

Wall Street Analysts Forecast Growth

CBRS has been the topic of several recent research reports. Freedom Capital raised shares of Cerebras Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Rosenblatt Securities restated a “buy” rating and set a $300.00 target price on shares of Cerebras Systems in a report on Wednesday, August 19th. Wedbush decreased their price target on shares of Cerebras Systems from $290.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group dropped their price target on Cerebras Systems from $330.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Finally, Wall Street Zen upgraded Cerebras Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.80.

About Cerebras Systems

Cerebras Systems develops computing systems and software designed for artificial intelligence and other compute-intensive workloads. Its products are built around the Wafer-Scale Engine, a large processor designed to support AI model training and inference, and include the CS-3 system and related software.

The company also offers cloud-based access to its AI computing infrastructure, giving customers a way to run AI workloads without deploying its systems on site. Its offerings are aimed at organizations developing and operating large AI models, including businesses, research institutions and public-sector customers.

Founded in 2015, Cerebras is headquartered in Sunnyvale, California.