Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) COO Sells 165,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) COO Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $98.61, for a total transaction of $16,270,650.00. Following the completion of the sale, the chief operating officer directly owned 695,000 shares in the company, valued at $68,533,950. This trade represents a 19.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 18th, Sanjay Gajendra sold 76,373 shares of Astera Labs stock. The shares were sold at an average price of $98.39, for a total transaction of $7,514,339.47.
• On Wednesday, June 4th, Sanjay Gajendra sold 88,627 shares of Astera Labs stock. The stock was sold at an average price of $98.11, for a total transaction of $8,695,194.97.
• On Tuesday, May 27th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The stock was sold at an average price of $98.25, for a total transaction of $16,211,250.00.
• On Friday, May 16th, Sanjay Gajendra sold 91,337 shares of Astera Labs stock. The stock was sold at an average price of $90.67, for a total transaction of $8,281,525.79.
• On Thursday, May 8th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded down $1.12 during mid-day trading on Friday, reaching $95.90. The company's stock had a trading volume of 2,879,503 shares, compared to its average volume of 4,364,439. The stock has a 50-day moving average of $90.47 and a two-hundred day moving average of $88.52. The stock has a market capitalization of $15.82 billion, a P/E ratio of 435.93, a P/E/G ratio of 4.56 and a beta of 1.18. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the prior year, the business earned $0.10 earnings per share. The company's quarterly revenue was up 144.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALAB shares. Needham & Company LLC lowered their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Evercore ISI increased their price target on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Raymond James Financial started coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs during the fourth quarter worth about $25,000. Hoey Investments Inc. increased its position in Astera Labs by 4.2% during the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after purchasing an additional 200 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the period. Finally, Allworth Financial LP boosted its stake in Astera Labs by 20.4% during the first quarter. Allworth Financial LP now owns 1,394 shares of the company's stock worth $90,000 after buying an additional 236 shares during the period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.