Cerebras Systems Inc. $CBRS Stock Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in shares of Cerebras Systems Inc. (NASDAQ:CBRS) by 509.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,392 shares of the company’s stock after purchasing an additional 6,179 shares during the period. International Assets Investment Management LLC’s holdings in Cerebras Systems were worth $1,253,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CBRS. Westside Investment Management Inc. raised its holdings in shares of Cerebras Systems by 136.4% in the third quarter. Westside Investment Management Inc. now owns 520 shares of the company’s stock valued at $90,000 after buying an additional 300 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Cerebras Systems by 63.7% during the third quarter. Kestra Advisory Services LLC now owns 5,600 shares of the company’s stock worth $995,000 after buying an additional 2,180 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Cerebras Systems by 205.2% during the third quarter. Commonwealth Equity Services LLC now owns 6,992 shares of the company’s stock worth $1,242,000 after buying an additional 4,701 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in Cerebras Systems by 91.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 5,860 shares of the company’s stock valued at $1,041,000 after acquiring an additional 2,792 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in Cerebras Systems in the 3rd quarter valued at about $240,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBRS. Weiss Ratings cut Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $300.00 target price on shares of Cerebras Systems in a research note on Wednesday, August 19th. Wall Street Zen raised Cerebras Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Freedom Capital upgraded Cerebras Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Finally, Morgan Stanley decreased their price target on Cerebras Systems from $279.00 to $178.00 and set an “overweight” rating for the company in a report on Monday. 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 assigned a Sell rating to the company. According to MarketBeat.com, Cerebras Systems has a consensus rating of “Moderate Buy” and a consensus target price of $261.80.

Cerebras Systems Stock Up 7.8%

Shares of NASDAQ:CBRS opened at $96.70 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82. The firm has a market capitalization of $22.97 billion and a P/E ratio of -1,208.75. Cerebras Systems Inc. has a 52 week low of $77.84 and a 52 week high of $386.34. The firm has a 50-day moving average price of $157.63.

Cerebras Systems (NASDAQ:CBRS) last released its earnings results on Wednesday, August 12th. The company reported ($2.98) earnings per share (EPS) 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 revenue for the quarter was up 74.3% on a year-over-year basis. Analysts expect that Cerebras Systems Inc. will post -0.52 EPS for the current year.

Insider Transactions at Cerebras Systems

In other news, Director Steven Vassallo sold 50,000 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $210.30, for a total value of $10,515,000.00. Following the completion of the transaction, the director owned 171,977 shares in the company, valued at $36,166,763.10. This trade represents a 22.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Vishria sold 68,268 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $229.77, for a total transaction of $15,685,938.36. Following the sale, the director directly owned 31,383 shares in the company, valued at approximately $7,210,871.91. This represents a 68.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,924,452 shares of company stock valued at $394,628,154 in the last three months.

Cerebras Systems Profile

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.