Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) COO Sanjay Gajendra sold 76,373 shares of Astera Labs stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $98.39, for a total value of $7,514,339.47. Following the completion of the transaction, the chief operating officer now owns 715,000 shares of the company’s stock, valued at $70,348,850. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Sanjay Gajendra also recently made the following trade(s):
- 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 shares were 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.
- 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
ALAB stock opened at $89.63 on Thursday. The firm has a market cap of $14.78 billion, a P/E ratio of 407.43, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The stock has a 50-day simple moving average of $83.33 and a 200-day simple moving average of $91.41. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.
Institutional Investors Weigh In On Astera Labs
A number of institutional investors have recently modified their holdings of ALAB. Vanguard Group Inc. grew its position in shares of Astera Labs by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company’s stock valued at $554,780,000 after buying an additional 85,846 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Astera Labs by 114.2% during the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after buying an additional 4,478,741 shares in the last quarter. Atreides Management LP grew its stake in shares of Astera Labs by 153.3% in the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after purchasing an additional 2,815,614 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.
Analysts Set New Price Targets
ALAB has been the topic of several recent research reports. Barclays boosted their price target on Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Needham & Company LLC decreased their price objective 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. Susquehanna assumed coverage on Astera Labs in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price on the stock. William Blair assumed coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They set an “outperform” rating for the company. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $100.00.
View Our Latest Analysis on ALAB
Astera Labs Company 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.
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