Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,021 shares of the medical equipment provider’s stock after selling 367 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Align Technology were worth $554,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Deepwater Asset Management LLC raised its stake in Align Technology by 46.8% in the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after purchasing an additional 15,608 shares during the last quarter. Yarbrough Capital LLC grew its stake in Align Technology by 206.5% during the 4th quarter. Yarbrough Capital LLC now owns 2,556 shares of the medical equipment provider’s stock valued at $700,000 after acquiring an additional 1,722 shares in the last quarter. First Bank & Trust boosted its holdings in shares of Align Technology by 7.6% during the 4th quarter. First Bank & Trust now owns 4,826 shares of the medical equipment provider’s stock worth $1,322,000 after purchasing an additional 342 shares during the last quarter. RDA Financial Network grew its position in shares of Align Technology by 12.3% in the fourth quarter. RDA Financial Network now owns 7,503 shares of the medical equipment provider’s stock valued at $2,056,000 after purchasing an additional 823 shares in the last quarter. Finally, Fulcrum Capital LLC increased its holdings in shares of Align Technology by 24.4% in the fourth quarter. Fulcrum Capital LLC now owns 8,015 shares of the medical equipment provider’s stock valued at $2,196,000 after purchasing an additional 1,573 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

Align Technology stock traded down $0.73 during trading on Thursday, hitting $327.17. The company’s stock had a trading volume of 145,727 shares, compared to its average volume of 779,790. The stock’s fifty day moving average is $297.09 and its 200 day moving average is $269.20. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 56.25, a P/E/G ratio of 5.76 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. On average, research analysts anticipate that Align Technology, Inc. will post 7.65 EPS for the current fiscal year.

Insider Activity

In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group raised their target price on Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. SVB Leerink began coverage on shares of Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Piper Sandler upped their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.45.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.