Cerebras Systems Inc. $CBRS Stock Position Lifted by Privium Fund Management B.V.

Privium Fund Management B.V. grew its holdings in shares of Cerebras Systems Inc. (NASDAQ:CBRS) by 83.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,000 shares of the company’s stock after acquiring an additional 50,500 shares during the quarter. Cerebras Systems accounts for approximately 3.8% of Privium Fund Management B.V.’s investment portfolio, making the stock its 7th largest position. Privium Fund Management B.V.’s holdings in Cerebras Systems were worth $19,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. McGuire Investment Group LLC lifted its holdings in shares of Cerebras Systems by 7.6% in the third quarter. McGuire Investment Group LLC now owns 1,420 shares of the company’s stock worth $252,000 after acquiring an additional 100 shares during the last quarter. Wealth Enhancement Trust Services Inc. bought a new stake in shares of Cerebras Systems during the 3rd quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Cerebras Systems during the 3rd quarter valued at approximately $31,000. GK Wealth Management LLC acquired a new position in Cerebras Systems during the 3rd quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners acquired a new position in Cerebras Systems during the 2nd quarter worth approximately $44,000.

Insider Activity

In other news, CEO Andrew Feldman sold 237,559 shares of Cerebras Systems stock in a transaction on Friday, August 21st. The shares were sold at an average price of $199.27, for a total transaction of $47,338,381.93. Following the transaction, the chief executive officer owned 16,853 shares in the company, valued at approximately $3,358,297.31. The trade was a 93.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Vishria sold 68,268 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $229.77, for a total value of $15,685,938.36. Following the completion of the sale, the director owned 31,383 shares of the company’s stock, valued at $7,210,871.91. The trade was a 68.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,924,452 shares of company stock valued at $394,628,154.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group raised shares of Cerebras Systems to an “outperform” rating in a research note on Monday, October 5th. TD Cowen decreased their target price on shares of Cerebras Systems from $275.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Wedbush upped their price target on shares of Cerebras Systems from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Citigroup dropped their price target on Cerebras Systems from $340.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Cerebras Systems in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $281.90.

Cerebras Systems Stock Performance

Shares of NASDAQ:CBRS traded up $7.97 during midday trading on Friday, hitting $89.68. 9,941,172 shares of the stock were exchanged, compared to its average volume of 10,661,696. The business’s 50-day simple moving average is $159.28. Cerebras Systems Inc. has a 12 month low of $77.84 and a 12 month 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. The firm has a market cap of $21.30 billion and a PE ratio of -1,121.00.

Cerebras Systems (NASDAQ:CBRS) last issued its quarterly earnings data 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 company had revenue of $209.87 million for the quarter. The firm’s quarterly revenue was up 74.3% on a year-over-year basis. As a group, sell-side analysts expect that Cerebras Systems Inc. will post -0.52 EPS for the current year.

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.