20,000 Shares in Cerebras Systems Inc. $CBRS Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new stake in shares of Cerebras Systems Inc. (NASDAQ:CBRS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the company’s stock, valued at approximately $4,323,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tiger Pacific Capital LP bought a new position in Cerebras Systems in the second quarter worth approximately $221,000. TD Waterhouse Canada Inc. bought a new stake in shares of Cerebras Systems during the 2nd quarter valued at $630,000. Proficio Capital Partners LLC bought a new stake in shares of Cerebras Systems during the 2nd quarter valued at $1,383,000. Situational Awareness LP purchased a new stake in shares of Cerebras Systems in the 2nd quarter worth $2,210,000. Finally, Knollwood Investment Advisory LLC bought a new position in Cerebras Systems in the 2nd quarter worth $4,576,000.

Insider Transactions at Cerebras Systems

In related news, CEO Andrew Feldman sold 237,559 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $199.27, for a total transaction of $47,338,381.93. Following the completion of the sale, the chief executive officer owned 16,853 shares in the company, valued at approximately $3,358,297.31. This trade represents a 93.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Vassallo sold 50,000 shares of Cerebras Systems stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $218.18, for a total value of $10,909,000.00. Following the sale, the director directly owned 49,599 shares in the company, valued at $10,821,509.82. This trade represents a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,291,278 shares of company stock valued at $265,966,662.

Cerebras Systems Stock Performance

CBRS opened at $210.05 on Friday. The company’s fifty day moving average price is $203.47. 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 issued its quarterly 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 during the quarter. The firm’s revenue was up 74.3% on a year-over-year basis. As a group, equities analysts expect that Cerebras Systems Inc. will post -0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CBRS has been the topic of several analyst reports. Weiss Ratings initiated coverage on Cerebras Systems in a research report on Thursday, August 13th. They set a “sell (d)” rating on the stock. Wedbush upped their price target on Cerebras Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Barclays initiated coverage on Cerebras Systems in a research report on Monday, June 8th. They set an “overweight” rating and a $280.00 price objective on the stock. Zacks Research upgraded Cerebras Systems to a “hold” rating in a research note on Tuesday, June 9th. Finally, UBS Group increased their target price on shares of Cerebras Systems from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cerebras Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.90.

Cerebras Systems Company Profile

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.