Rep. Robert Bresnahan, Jr. Sells Off Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Astera Labs, Inc. (NASDAQ:ALAB). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Astera Labs stock on February 27th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Astera Labs Stock Performance

Shares of ALAB stock traded down $2.01 on Friday, hitting $60.78. 3,132,437 shares of the stock traded hands, compared to its average volume of 3,666,769. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a market capitalization of $9.86 billion and a PE ratio of -35.13. The firm’s 50-day moving average price is $85.00 and its two-hundred day moving average price is $89.84.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the company’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 value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This trade 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 worth $50,242,702.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Steward Partners Investment Advisory LLC grew its position 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 worth $26,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new position in Astera Labs during the 4th quarter worth approximately $28,000. GAMMA Investing LLC increased its position in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Astera Labs by 5.2% in the 4th 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 during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALAB shares. Raymond James assumed coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Astera Labs has an average rating of “Buy” and an average target price of $112.77.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.