Cerebras Systems Inc. $CBRS Shares Newly Acquired by Lunate Capital Ltd

Lunate Capital Ltd bought a new stake in Cerebras Systems Inc. (NASDAQ:CBRS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 649,318 shares of the company’s stock, valued at approximately $115,351,000. Cerebras Systems comprises 16.1% of Lunate Capital Ltd’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also made changes to their positions in CBRS. Value Aligned Research Advisors LLC purchased a new stake in shares of Cerebras Systems during the 2nd quarter valued at approximately $241,934,000. Wellington Management Group LLP acquired a new position in Cerebras Systems in the second quarter valued at approximately $194,853,000. State Street Corp purchased a new position in Cerebras Systems in the second quarter worth approximately $105,343,000. Dragoneer Investment Group LLC purchased a new position in Cerebras Systems in the second quarter worth approximately $88,400,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Cerebras Systems by 59.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 490,139 shares of the company’s stock worth $87,073,000 after acquiring an additional 183,035 shares during the period.

Trending Headlines about Cerebras Systems

Here are the key news stories impacting Cerebras Systems this week:

• Positive Sentiment: Bilt selected Cerebras’ AI infrastructure for its Neighborhood OS and Bilt Concierge, services intended for more than eight million members. The deal provides a customer-validation point, though no financial terms were disclosed. Bilt selects Cerebras
• Neutral Sentiment: Pre-earnings commentary sees potential for strong AI-inference demand and cloud adoption, and Wedbush expects a modest beat and raise. However, margin pressure, ongoing losses, and valuation remain concerns; Q3 results are due Nov. 12. Q3 earnings outlook
• Negative Sentiment: Analyst price-target reductions may weigh on sentiment: Wedbush reportedly cut its target by $100, while Morgan Stanley lowered its target from $279 to $178 but kept an Overweight rating. Wedbush target cut
• Negative Sentiment: The IPO lockup expiration could allow early shareholders to sell, increasing potential share supply ahead of earnings. Lockup expiration
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Cerebras investors, adding legal uncertainty. The announcement does not establish wrongdoing. Pomerantz investigation announcement

Insider Buying and Selling

In other Cerebras Systems news, CAO Yagnesh Patel sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $204.50, for a total value of $269,940.00. Following the sale, the chief accounting officer owned 15,356 shares of the company’s stock, valued at $3,140,302. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Patrick Jr. Komin sold 32,500 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $203.53, for a total value of $6,614,725.00. Following the transaction, the chief financial officer owned 30,670 shares in the company, valued at $6,242,265.10. This trade represents a 51.45% 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. Insiders have sold 1,924,452 shares of company stock valued at $394,628,154 over the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CBRS shares. Jefferies Financial Group raised Cerebras Systems to an “outperform” rating in a research note on Monday, October 5th. Wedbush decreased their price target on Cerebras Systems from $290.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday. Weiss Ratings cut Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, November 4th. TD Cowen lowered their price target on Cerebras Systems from $275.00 to $175.00 and set a “buy” rating for the company in a report on Monday, October 19th. Finally, Mizuho cut their price objective on Cerebras Systems from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Two research 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. According to data from MarketBeat.com, Cerebras Systems has a consensus rating of “Moderate Buy” and an average price target of $261.80.

Cerebras Systems Price Performance

Cerebras Systems stock opened at $93.66 on Wednesday. The company has a 50 day moving average of $155.82. The company has a current ratio of 5.82, a quick ratio of 5.80 and a debt-to-equity ratio of 0.02. Cerebras Systems Inc. has a 1 year low of $77.84 and a 1 year high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.98) earnings per share 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 company’s revenue was up 74.3% compared to the same quarter last year. Analysts predict that Cerebras Systems Inc. will post -0.52 earnings per share for the current fiscal year.

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.