Dakota Wealth Management Acquires New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Dakota Wealth Management bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,061 shares of the company’s stock, valued at approximately $2,204,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new position in shares of Astera Labs in the second quarter worth about $74,000. Newbridge Financial Services Group Inc. increased its position in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares during the period. Legato Capital Management LLC bought a new position in Astera Labs in the 2nd quarter worth approximately $207,000. Alpine Global Management LLC acquired a new position in shares of Astera Labs during the first quarter worth approximately $272,000. Finally, Strategic Blueprint LLC bought a new stake in shares of Astera Labs in the second quarter valued at approximately $332,000.

Analysts Set New Price Targets

Several equities analysts recently commented on ALAB shares. Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lifted their target price on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays cut their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Roth Mkm reduced their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $73.09.

Insider Buying and Selling

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 564,458 shares of company stock worth $31,970,841 in the last three months.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $72.67 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $95.21. The business has a fifty day moving average of $51.13 and a two-hundred day moving average of $58.09.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The business’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

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.