Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) COO Sells 280,000 Shares of Stock

Key Points

• Sanjay Gajendra, COO of Astera Labs, sold 280,000 shares of stock at an average price of $170.02, totaling approximately $47.6 million, reducing his ownership by 4.82% to about 5.52 million shares.
• Astera Labs reported strong earnings on August 5th, with $0.44 EPS and revenue of $191.93 million, significantly exceeding analysts’ estimates and showcasing 149.5% growth year-over-year.
• Multiple analysts have given Astera Labs a mixed outlook, with 14 buy ratings and a consensus price target of $129.13, indicating confidence in its potential while varying in target prices.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) COO Sanjay Gajendra sold 280,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $170.02, for a total value of $47,605,600.00. Following the sale, the chief operating officer owned 5,525,545 shares of the company's stock, valued at approximately $939,453,160.90. The trade was a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, July 9th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The shares were sold at an average price of $98.61, for a total value of $16,270,650.00.
• 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 value 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 value 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 value of $16,211,250.00.
• On Friday, May 16th, Sanjay Gajendra sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total transaction of $8,281,525.79.

Astera Labs Price Performance

Shares of ALAB stock traded up $8.39 during trading hours on Friday, reaching $179.28. 7,062,196 shares of the stock were exchanged, compared to its average volume of 6,687,345. The business's fifty day moving average is $104.16 and its two-hundred day moving average is $86.99. Astera Labs, Inc. has a 12-month low of $36.85 and a 12-month high of $183.62. The firm has a market capitalization of $29.80 billion, a P/E ratio of 322.43, a P/E/G ratio of 7.27 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $191.93 million for the quarter, compared to the consensus estimate of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. Astera Labs's quarterly revenue was up 149.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Susquehanna boosted their target price on Astera Labs from $80.00 to $125.00 and gave the stock a "neutral" rating in a report on Thursday. Needham & Company LLC raised their price objective on Astera Labs from $100.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday. Stifel Nicolaus set a $145.00 price target on Astera Labs and gave the stock a "buy" rating in a report on Monday. Finally, Evercore ISI boosted their price target on Astera Labs from $104.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.13.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corebridge Financial Inc. grew its stake in Astera Labs by 359.9% during the 4th quarter. Corebridge Financial Inc. now owns 814 shares of the company's stock worth $108,000 after buying an additional 637 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Astera Labs by 121.7% in the fourth quarter. National Bank of Canada FI now owns 541 shares of the company's stock worth $72,000 after buying an additional 297 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Astera Labs in the 4th quarter worth approximately $202,000. Envestnet Asset Management Inc. increased its position in Astera Labs by 204.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 85,553 shares of the company's stock worth $11,331,000 after purchasing an additional 57,434 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Astera Labs by 33,535.3% in the 4th quarter. Russell Investments Group Ltd. now owns 11,436 shares of the company's stock worth $1,517,000 after purchasing an additional 11,402 shares during the last quarter. 60.47% of the stock is 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.

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