Sean Lie Sells 53,460 Shares of Cerebras Systems (NASDAQ:CBRS) Stock

Key Points

• CTO Sean Lie sold 53,460 Cerebras shares at an average price of $210.16, generating approximately $11.24 million. His remaining 345,569-share position is valued at about $72.6 million, a 13.4% reduction.
• Cerebras stock fell 4.9% to $199.77, while its latest quarterly results showed a $2.98 per-share loss—well below estimates—despite revenue rising 74.3% year over year to $209.87 million.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $299.90; several institutional investors also established new positions during the second quarter.

Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) CTO Sean Lie sold 53,460 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $210.16, for a total transaction of $11,235,153.60. Following the sale, the chief technology officer owned 345,569 shares of the company's stock, valued at $72,624,781.04. This trade represents a 13.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Sean Lie also recently made the following trade(s):

• On Thursday, August 20th, Sean Lie sold 710,247 shares of Cerebras Systems stock. The shares were sold at an average price of $207.86, for a total transaction of $147,631,941.42.
• On Friday, August 21st, Sean Lie sold 16,293 shares of Cerebras Systems stock. The stock was sold at an average price of $210.01, for a total transaction of $3,421,692.93.
• On Tuesday, August 18th, Sean Lie sold 21,257 shares of Cerebras Systems stock. The shares were sold at an average price of $222.22, for a total transaction of $4,723,730.54.
• On Thursday, June 25th, Sean Lie sold 10,033 shares of Cerebras Systems stock. The shares were sold at an average price of $170.07, for a total value of $1,706,312.31.

Cerebras Systems Trading Down 4.9%

Cerebras Systems stock traded down $10.28 during trading on Tuesday, hitting $199.77. 7,976,216 shares of the company were exchanged, compared to its average volume of 8,364,061. The firm has a 50 day simple moving average of $202.92. Cerebras Systems Inc. has a 52 week low of $160.81 and a 52 week high of $386.34.

Cerebras Systems (NASDAQ:CBRS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($2.98) earnings per share 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 quarterly revenue was up 74.3% on a year-over-year basis. On average, analysts predict that Cerebras Systems Inc. will post -0.52 EPS for the current year.

Wall Street Analyst Weigh In

CBRS has been the topic of several recent analyst reports. Morgan Stanley lifted their target price 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. Citigroup decreased their target price on Cerebras Systems from $340.00 to $320.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Rosenblatt Securities reissued a "buy" rating and issued a $300.00 price target on shares of Cerebras Systems in a report on Wednesday, August 19th. Zacks Research upgraded shares of Cerebras Systems to a "hold" rating in a research report on Tuesday, June 9th. Finally, TD Cowen started coverage on shares of Cerebras Systems in a report on Monday, June 8th. They set a "buy" rating and a $275.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cerebras Systems presently has a consensus rating of "Moderate Buy" and an average target price of $299.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Situational Awareness LP purchased a new stake in Cerebras Systems in the 2nd quarter worth about $2,210,000. Ratan Capital Management LP purchased a new stake in Cerebras Systems during the second quarter valued at about $4,641,000. Proficio Capital Partners LLC purchased a new stake in Cerebras Systems during the second quarter valued at about $1,383,000. Value Aligned Research Advisors LLC bought a new position in Cerebras Systems during the second quarter worth about $241,934,000. Finally, Montanova Capital LLC bought a new position in Cerebras Systems during the second quarter worth about $37,990,000.

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.

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