The insider sales are routine, low-value, and post-earnings — no bearish signal. The real story is Cerebras's accelerating core revenue (+94% YoY) and the $20B+ OpenAI agreement. Monitor the Q2 earnings report for continued execution on the guidance trajectory; the next catalyst is likely the full Q2 print.
Price Chart
Executive Summary
Four Cerebras insiders, including the CEO, COO, and CTO, sold a total of $1.15M in open-market sales over four days following a strong Q1 earnings beat and raised guidance. The sales equal ~0.002% of market cap — trivial relative to company size — and follow a 10b5-1 pattern typical of post-earnings window openings. A large non-cash derivative conversion by Benchmark Capital has no market impact.
Key Financial Metrics
Key Facts
- CEO Andrew Feldman sold $681K, CTO Sean Lie sold $419K, COO Dhiraj Mallick sold $32K, CAO Yagnesh Patel sold $16K — total open-market sales of $1.15M.
- Total open-market sales represent ~0.002% of CBRS's $49.3B market cap — well below the 0.1% materiality threshold.
- Benchmark Capital converted 2.16M shares from derivatives at $0 — a non-cash, non-economic event with no market impact.
- Q1 2026 revenue of $193.4M beat consensus of $177.7M; core revenue guidance of ~$855-865M for FY26 implies ~69% YoY growth.
- Filing follows earnings by ~8 days — sales likely within an open trading window after the strong results, not a reaction to adverse news.
Financial Impact
Open-market sales of $1.15M represent ~0.002% of $49.3B market cap — de minimis, no material financial impact on company operations or capital structure.
Risk Factors
- Despite strong revenue growth, GAAP net loss of -$0.22/share and core net loss of -$2.5M indicate the company is still burning cash at scale.
- Insider sales in the future could be more material — current volume is trivial but a change in pattern would warrant attention.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CBRS-1782976909939 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | Insider Cluster | $196.20 $190.47 | ▲ +2.92% | ▲ +2.26% | $169.52 (+13.60%) |
Sep 4, 2026 27d ago | 144 | $199.77 $184.03 | ▼ −7.88% | ▼ −6.76% | $169.52 (−15.14%) |
Sep 1, 2026 4w ago | Press Release | $172.62 $196.20 | ▲ +13.66% | ▲ +13.58% | $169.52 (−1.80%) |
Aug 25, 2026 5w ago | Insider Cluster | $182.15 $184.52 | ▲ +1.30% | ▲ +1.42% | $169.52 (−6.93%) |
Aug 25, 2026 5w ago | Insider Cluster | $182.15 $184.52 | ▼ −1.30% | ▼ −1.42% | $169.52 (+6.93%) |
Aug 25, 2026 5w ago | Insider Cluster | $182.15 $184.52 | ▼ −1.30% | ▼ −1.42% | $169.52 (+6.93%) |
Aug 22, 2026 5w ago | Insider Cluster | $185.43 $184.24 | ▲ +0.64% | ▲ +1.11% | $169.52 (+8.58%) |
Aug 21, 2026 6w ago | Insider Cluster | $196.13 $179.08 | ▼ −8.69% | ▼ −9.17% | $169.52 (−13.57%) |
Aug 19, 2026 6w ago | Insider Cluster | $209.76 $186.67 | ▼ −11.01% | ▼ −12.12% | $169.52 (−19.18%) |
Aug 19, 2026 6w ago | Insider Cluster | $209.76 $186.67 | ▼ −11.01% | ▼ −12.12% | $169.52 (−19.18%) |
US Market Status
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