Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Ashburton Jersey Ltd

Ashburton Jersey Ltd trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,902 shares of the medical equipment provider’s stock after selling 1,163 shares during the period. Align Technology makes up about 0.9% of Ashburton Jersey Ltd’s portfolio, making the stock its 23rd biggest position. Ashburton Jersey Ltd’s holdings in Align Technology were worth $1,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Align Technology by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock worth $375,200,000 after purchasing an additional 29,497 shares in the last quarter. Morgan Stanley increased its holdings in Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after buying an additional 90,581 shares in the last quarter. Rhenman & Partners Asset Management AB acquired a new position in shares of Align Technology in the third quarter worth about $305,000. Invesco Ltd. boosted its stake in shares of Align Technology by 15.4% during the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after acquiring an additional 128,273 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Align Technology by 2.7% during the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock valued at $253,864,000 after acquiring an additional 21,490 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Emory Wright sold 2,524 shares of Align Technology 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 in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,524 shares of company stock worth $8,403,924. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALGN shares. Morgan Stanley upped their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. The Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Piper Sandler reissued an “overweight” rating and issued a $375.00 price target (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $353.00.

Align Technology Price Performance

NASDAQ ALGN traded down $0.05 during trading hours on Thursday, hitting $284.47. 170,744 shares of the company’s stock traded hands, compared to its average volume of 751,953. The company has a market capitalization of $21.41 billion, a PE ratio of 46.87, a PEG ratio of 5.19 and a beta of 1.66. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The firm’s 50-day moving average is $312.28 and its 200-day moving average is $271.29.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Equities research analysts predict that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.

Align Technology Company 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.