Cerebras Systems Inc. $CBRS Stock: NFSG Corp Grows Stake

NFSG Corp raised its holdings in shares of Cerebras Systems Inc. (NASDAQ:CBRS) by 1,483.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,821 shares of the company’s stock after acquiring an additional 8,264 shares during the quarter. NFSG Corp’s holdings in Cerebras Systems were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Trust Services Inc. bought a new stake in shares of Cerebras Systems during the 3rd quarter valued at $26,000. GK Wealth Management LLC purchased a new stake in shares of Cerebras Systems in the 3rd quarter worth $31,000. Silicon Valley Capital Partners bought a new position in Cerebras Systems in the 2nd quarter worth $44,000. Mather Group LLC. bought a new position in Cerebras Systems in the 3rd quarter worth $44,000. Finally, CoreCap Advisors LLC bought a new position in Cerebras Systems in the 3rd quarter worth $52,000.

Cerebras Systems Trading Up 0.5%

CBRS opened at $142.17 on Friday. The stock has a 50 day moving average price of $193.67. 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 Inc. has a 1-year low of $133.88 and a 1-year high of $386.34.

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

Insider Buying and Selling

In other Cerebras Systems news, Director Steven Vassallo sold 50,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $210.30, for a total value of $10,515,000.00. Following the completion of the sale, the director owned 171,977 shares in the company, valued at approximately $36,166,763.10. This represents a 22.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Dhiraj Mallick sold 396,000 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $204.04, for a total value of $80,799,840.00. Following the completion of the sale, the chief operating officer owned 396,000 shares of the company’s stock, valued at $80,799,840. The trade was a 50.00% decrease in their position. 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 a total of 1,864,452 shares of company stock worth $387,680,754 in the last three months.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, September 25th. 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Cerebras Systems in a research note on Wednesday, August 19th. Mizuho lowered their price objective on Cerebras Systems from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded Cerebras Systems from a “sell” rating to a “hold” rating in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Cerebras Systems has an average rating of “Moderate Buy” and an average price target of $299.90.

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.