19,020 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Numerai GP LLC

Numerai GP LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,020 shares of the company's stock, valued at approximately $2,519,000. Astera Labs accounts for about 0.7% of Numerai GP LLC's investment portfolio, making the stock its 27th biggest holding.

A number of other institutional investors have also recently bought and sold shares of ALAB. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter valued at $25,000. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter valued at $28,000. CIBC Asset Management Inc boosted its stake in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after acquiring an additional 237 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Astera Labs during the 4th quarter valued at $36,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider now directly owns 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 948,990 shares of company stock worth $78,221,662.

Astera Labs Trading Down 1.8%

ALAB traded down $1.63 on Friday, reaching $90.56. The company had a trading volume of 3,807,931 shares, compared to its average volume of 3,919,320. The company has a fifty day moving average of $66.62 and a 200-day moving average of $92.00. The company has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a PEG ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter last year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 144.1% on a year-over-year basis. Research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC dropped their target price 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. Barclays increased their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Craig Hallum increased their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $98.29.

Astera Labs Profile

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.