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 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Astera Labs stock on February 18th. 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 Alibaba Group (NYSE:BABA) on 2/21/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 2/20/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Reddit (NYSE:RDDT) on 2/14/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/12/2025.

Astera Labs Stock Performance

ALAB stock opened at $66.05 on Wednesday. The company has a market capitalization of $10.71 billion and a price-to-earnings ratio of -38.18. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a fifty day moving average of $101.65 and a 200-day moving average of $88.10.

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 return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALAB. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $115.33.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Astera Labs during the 4th quarter valued at $18,209,000. Ameriflex Group Inc. purchased a new position in Astera Labs in the 4th quarter worth $144,000. Warm Springs Advisors Inc. purchased a new position in Astera Labs in the 4th quarter worth $3,311,000. GF Fund Management CO. LTD. purchased a new position in Astera Labs in the 4th quarter worth $265,000. Finally, Public Employees Retirement System of Ohio raised its position in Astera Labs by 364.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 37,145 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,145 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last 90 days.

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.