FourThought Financial Partners LLC Has $3.49 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

FourThought Financial Partners LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 34.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,741 shares of the medical equipment provider’s stock after acquiring an additional 3,247 shares during the quarter. FourThought Financial Partners LLC’s holdings in Align Technology were worth $3,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGN. Huntington National Bank lifted its stake in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Align Technology during the third quarter worth approximately $61,000. Operose Advisors LLC bought a new position in shares of Align Technology during the third quarter worth approximately $63,000. Covestor Ltd increased its stake in shares of Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 167 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 49 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN stock traded up $1.33 on Friday, hitting $287.87. 353,639 shares of the company’s stock were exchanged, compared to its average volume of 699,892. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The company has a 50 day moving average of $311.68 and a 200 day moving average of $271.39. The stock has a market cap of $21.66 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 5.27 and a beta of 1.66.

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

Insider Activity at Align Technology

In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 in the last quarter. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALGN shares. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. UBS Group boosted their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. SVB Leerink initiated coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $353.00.

About Align Technology

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.