3,662 Cerebras Systems Inc. $CBRS Shares Acquired by Baring Financial LLC

Baring Financial LLC boosted its stake in shares of Cerebras Systems Inc. (NASDAQ:CBRS) by 268.5% in the third quarter, Holdings Channel reports. The institutional investor owned 5,026 shares of the company’s stock after acquiring an additional 3,662 shares during the period. Baring Financial LLC’s holdings in Cerebras Systems were worth $893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CBRS. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Cerebras Systems during the 3rd quarter worth $26,000. Silicon Valley Capital Partners purchased a new position in Cerebras Systems in the second quarter valued at about $44,000. IFP Advisors Inc purchased a new position in Cerebras Systems in the second quarter valued at about $169,000. Integrated Wealth Concepts LLC bought a new position in Cerebras Systems in the second quarter worth about $197,000. Finally, Corient Private Wealth LP bought a new position in Cerebras Systems in the second quarter worth about $205,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBRS shares. UBS Group raised their target price on shares of Cerebras Systems from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen raised Cerebras Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Morgan Stanley increased their price objective on Cerebras Systems from $273.00 to $279.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Zacks Research raised Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. Finally, Wedbush boosted their target price on Cerebras Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $299.90.

Cerebras Systems Stock Down 1.2%

Shares of CBRS stock traded down $2.05 during mid-day trading on Wednesday, hitting $175.05. 5,352,695 shares of the stock were exchanged, compared to its average volume of 7,245,977. The stock’s fifty day moving average price is $200.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82. Cerebras Systems Inc. has a 52-week low of $160.81 and a 52-week high of $386.34. The company has a market capitalization of $41.58 billion and a P/E ratio of -2,188.12.

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 the consensus estimate of ($0.21) by ($2.77). The company had revenue of $209.87 million during the quarter. The firm’s revenue was up 74.3% on a year-over-year basis. Equities analysts predict that Cerebras Systems Inc. will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other Cerebras Systems news, Director Eric Vishria sold 68,268 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $229.77, for a total value of $15,685,938.36. Following the transaction, the director owned 31,383 shares in the company, valued at approximately $7,210,871.91. This trade represents a 68.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Vassallo sold 50,000 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $210.30, for a total transaction of $10,515,000.00. Following the transaction, the director owned 171,977 shares in the company, valued at $36,166,763.10. The trade was a 22.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,864,452 shares of company stock valued at $387,680,754.

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.