Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells $71,476,600.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at $74,857,250. This trade represents a 48.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00.
• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32.

Astera Labs Stock Down 0.9 %

NASDAQ ALAB opened at $88.49 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $100.09. The stock’s 50-day moving average is $62.01 and its 200-day moving average is $59.09.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s revenue was up 47.1% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent research reports. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Barclays lifted their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $92.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALAB. Fred Alger Management LLC raised its position in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $127,268,000. Westfield Capital Management Co. LP acquired a new stake in shares of Astera Labs in the third quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company lifted its position in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Finally, Spyglass Capital Management LLC acquired a new position in Astera Labs during the third quarter worth $38,565,000.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.