Quantbot Technologies LP Acquires Shares of 30,998 Astera Labs, Inc. (NASDAQ:ALAB)

Quantbot Technologies LP acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 30,998 shares of the company's stock, valued at approximately $4,106,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the fourth quarter worth $28,000. GAMMA Investing LLC lifted its holdings in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after purchasing an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after purchasing an additional 237 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Down 7.3 %

NASDAQ:ALAB traded down $5.24 during trading hours on Wednesday, hitting $66.95. 3,010,451 shares of the stock traded hands, compared to its average volume of 3,640,962. The company has a market cap of $10.86 billion and a price-to-earnings ratio of -38.70. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a 50 day moving average price of $89.05 and a 200 day moving average price of $90.03.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction 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 completion of the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALAB. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Raymond James assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price for the company. Finally, Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $112.77.

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.