Lie Sean (Chief Technology Officer) sold $6.9M of stock, under a pre-arranged trading plan
SEC Form 4
Cerebras Systems Inc. is a US-listed company in the semiconductors industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$70
Valuation models combined (2)
Base case. Range ~$44–$77. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Cerebras Systems Inc. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 7 selling0 purchases and 336 sales by directors and officers, last 12 monthsInsider trades
- Funds395 adding, 0 cuttingOf 64 active managers that changed their stake, 64 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 75% in the quarter to 2026-06-30, the 2nd beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Estimates rising. Analysts' consensus for next year's earnings per share has risen 32.5% over 90 days.
Things to watch
- Insiders selling. 7 insiders sold $415M of stock over the past 365 days and none bought (85% under pre-set trading plans).
- Heavily shorted. 17.7% of the shares available to trade are sold short (2.3 days of average volume to cover).
Latest results
- Earnings per share
- -$0.05 against an average estimate of -$0.18: beat by 74.6%
- Share reaction
- -1.6% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
- Next report
- November 12, 2026; average EPS estimate -$0.14
Price chart
- 1 day-11.7%
- 1 week-11.1%
- 1 month-42.1%
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Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 12, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Insider trade
- Insider trade
Mallick Dhiraj (Chief Operating Officer) sold $66.1M of stock, under a pre-arranged trading plan
SEC Form 4 - Results
Cerebras Systems Inc. reported results
SEC 8-KRead source ↗
Valuation models
We value Cerebras Systems Inc. as an operating company, with every model that fits that kind of business. Cost of equity 12.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.72 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$77 ~$49–$100 | Primary model, counts double |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$19 ~$18–$33 | Left out: out of range vs price (0.20x) |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$44 ~$42–$130 | Included, half weight |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$70 ~$44–$77 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cerebras Systems Inc. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 12, 2026, after the close. Analysts expect revenue of $215m and EPS of −$0.14 (range −$0.21 to −$0.03) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$0.47 | — | $887m | — |
| Next | $1.27 | +371% | $3.0bn | +233% |
Next year's EPS estimate has moved +32.5% in 90 days, across 11 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −51.7% on 90 days ago. In the last 30 days, 9 analysts raised Cerebras Systems Inc.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$0.97 | $0.96 |
| 60 days ago | −$0.47 | $1.27 |
| 30 days ago | −$0.47 | $1.27 |
| 7 days ago | −$0.47 | $1.27 |
| Now | −$0.47 | $1.27 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.18 | −$0.05 | +74.6% |
| Mar 2026 | −$0.15 | −$0.04 | +74.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 17.7% of tradable shares
- Days to cover
- 2.3 at average volume
- Short interest, 1 month
- +55% to October 15, 2026
- Held by institutions
- 80% of shares
- Held by insiders
- 9.6% of shares
- Employees
- 708 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- −42.2%
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Share price after results
- Next day
- 0 up, 2 down typical move ±10.2%
- After a week
- 0 up, 2 down typical move ±4.8%
- After a month
- 0 up, 2 down typical move ±10.1%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 12, 2026 | −1.6% | +0.9% | −8.1% | −18.2% |
| June 23, 2026 | −18.8% | −1.5% | −1.5% | −2.0% |
Fundamentals
Who owns it
Funds buying and selling- Reported value
- $17.9B
- Institutions reporting
- 406
- Positions opened / closed
- 395 / 0
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Eclipse Operations, LLC | $2.5B | 11.4M | 14.1% | — |
| FMR LLC | $1.9B | 8.4M | 10.4% | — |
| Coatue Management LLC | $1.5B | 7.0M | 8.7% | — |
| Capital World Investors | $861M | 3.9M | 4.8% | — |
| Morgan Stanley | $713M | 3.2M | 4.0% | — |
| Atreides Management, LP | $687M | 3.1M | 3.8% | — |
| Jpmorgan Chase & Co | $670M | 3.1M | 3.7% | — |
| Tiger Global Management LLC | $663M | 3.0M | 3.7% | — |
| VY Capital Management Co. Ltd. | $474M | 2.1M | 2.7% | — |
| Blackrock, Inc. | $459M | 2.1M | 2.6% | — |
| Price T Rowe Associates Inc | $452M | 2.0M | 2.5% | — |
| Vanguard Portfolio Management LLC | $343M | 1.6M | 1.9% | — |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cerebras Systems Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $415M 336 trades by 7 insiders · 85% under pre-set plans
Net ▼ $415M net selling
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Lie Sean Chief Technology Officer | October 27, 2026 | Sell pre-set plan | 100 | $113.92 | $11,392 |
| Lie Sean Chief Technology Officer | October 27, 2026 | Sell pre-set plan | 45,400 | $115.46 | $5.2M |
| Lie Sean Chief Technology Officer | October 27, 2026 | Sell pre-set plan | 14,500 | $116.82 | $1.7M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 18,703 | $195.56 | $3.7M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 598 | $212.93 | $127,332 |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 18,274 | $212.20 | $3.9M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 41,391 | $211.29 | $8.7M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 46,427 | $210.27 | $9.8M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 41,278 | $209.33 | $8.6M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 20,714 | $208.38 | $4.3M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 9,652 | $207.06 | $2M |
| Mallick Dhiraj Chief Operating Officer | September 29, 2026 | Sell pre-set plan | 9,047 | $206.13 | $1.9M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
- August 12, 2026
- June 23, 2026
Recent SEC filings
- 10-Q Quarterly report
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- S-1 S-1
- S-1 S-1
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Cerebras Systems Inc. in brief
- What does Cerebras Systems Inc. do?
- Cerebras Systems Inc. is a US-listed company in the semiconductors industry. Its financial year ends in December.
- What is Cerebras Systems Inc.'s stock ticker?
- Cerebras Systems Inc. trades under the ticker CBRS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Cerebras Systems Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Eclipse Operations, LLC, FMR LLC and Coatue Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Cerebras Systems Inc. stock?
- Over the last 12 months, Cerebras Systems Inc.'s directors and officers reported 0 open-market purchases and 336 sales on Form 4. The insider trading page charts every trade.
- When is Cerebras Systems Inc.'s next earnings date?
- Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cerebras Systems Inc. announces its own schedule.
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