Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 141.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,114 shares of the company's stock after purchasing an additional 4,167 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Astera Labs were worth $424,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC boosted its stake 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 buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs during the fourth quarter valued at $28,000. Global Retirement Partners LLC raised its stake in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares during the period. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at $43,000. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In related news, Director Manuel Alba sold 600 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $100.00, for a total transaction of $60,000.00. Following the sale, the director now owns 436,563 shares of the company's stock, valued at $43,656,300. This trade represents a 0.14% 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. Also, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the transaction, the chief executive officer now owns 575,000 shares in the company, valued at $40,853,750. This trade represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,601,777 shares of company stock valued at $141,082,321 over the last 90 days.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. William Blair initiated coverage on Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. Citigroup cut their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Raymond James Financial started coverage on Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price target for the company. Finally, Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Astera Labs has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Trading Down 6.3%

Shares of Astera Labs stock traded down $6.32 during trading on Friday, hitting $93.21. 5,924,678 shares of the stock traded hands, compared to its average volume of 4,139,674. The stock's fifty day simple moving average is $80.98 and its 200 day simple moving average is $92.18. The firm has a market cap of $15.37 billion, a P/E ratio of 426.06, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.