WINTON GROUP Ltd Makes New $1.02 Million Investment in Cerebras Systems Inc. $CBRS

WINTON GROUP Ltd acquired a new stake in shares of Cerebras Systems Inc. (NASDAQ:CBRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,600 shares of the company’s stock, valued at approximately $1,017,000.

A number of other institutional investors have also recently made changes to their positions in the company. Value Aligned Research Advisors LLC bought a new stake in shares of Cerebras Systems in the second quarter worth about $241,934,000. Wellington Management Group LLP purchased a new stake in shares of Cerebras Systems in the second quarter worth about $194,853,000. Montanova Capital LLC bought a new position in Cerebras Systems during the second quarter valued at approximately $37,990,000. Engineers Gate Manager LP bought a new position in Cerebras Systems during the second quarter valued at approximately $21,760,000. Finally, Bank of New York Mellon Corp purchased a new position in Cerebras Systems during the 2nd quarter valued at approximately $6,118,000.

Analysts Set New Price Targets

A number of research firms have issued reports on CBRS. UBS Group lifted their price objective on Cerebras Systems from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Barclays started coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued an “overweight” rating and a $280.00 target price for the company. Craig Hallum assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $325.00 price target on the stock. Freedom Capital raised shares of Cerebras Systems to a “hold” rating in a research note on Monday, June 29th. Finally, Citigroup lowered their price objective on shares of Cerebras Systems from $340.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cerebras Systems presently has an average rating of “Moderate Buy” and an average target price of $299.90.

Insider Transactions at Cerebras Systems

In related news, CTO Sean Lie sold 53,460 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $210.16, for a total transaction of $11,235,153.60. Following the completion of the sale, the chief technology officer directly owned 345,569 shares of the company’s stock, valued at approximately $72,624,781.04. This trade represents a 13.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Feldman sold 37,441 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $210.46, for a total value of $7,879,832.86. Following the transaction, the chief executive officer owned 16,853 shares of the company’s stock, valued at approximately $3,546,882.38. The trade was a 68.96% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,432,179 shares of company stock valued at $295,596,648.

Cerebras Systems Stock Performance

Shares of NASDAQ:CBRS opened at $191.93 on Monday. Cerebras Systems Inc. has a 12 month low of $160.81 and a 12 month high of $386.34. The firm’s 50-day moving average price is $201.89.

Cerebras Systems (NASDAQ:CBRS) last announced its quarterly earnings data 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 for the quarter. Cerebras Systems’s quarterly revenue was up 74.3% compared to the same quarter last year. On average, equities analysts forecast that Cerebras Systems Inc. will post -0.52 EPS for the current year.

Cerebras Systems Company Profile

Cerebras Systems develops specialized computing systems and software for artificial intelligence (AI) and machine-learning workloads. The company’s technology is designed to accelerate the training and deployment of large AI models by combining high-performance processors, memory, networking and software into integrated computing platforms.

Its principal products include the Wafer-Scale Engine (WSE), a processor built on a single semiconductor wafer, and the CS-3 AI supercomputer, which is based on the company’s wafer-scale architecture.