Gabelli Funds LLC Reduces Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Gabelli Funds LLC trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 26.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,400 shares of the medical equipment provider’s stock after selling 500 shares during the quarter. Gabelli Funds LLC’s holdings in Align Technology were worth $427,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KB Financial Partners LLC bought a new stake in Align Technology in the 1st quarter worth about $26,000. Optiver Holding B.V. bought a new stake in shares of Align Technology during the 2nd quarter valued at about $27,000. Cornerstone Planning Group LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at about $29,000. First Manhattan CO. LLC. grew its stake in shares of Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Align Technology during the 2nd quarter valued at about $44,000. 87.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALGN. 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. Morgan Stanley cut their price target on Align Technology from $415.00 to $378.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. UBS Group boosted their price target on Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Stifel Nicolaus cut their price target on Align Technology from $430.00 to $390.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th. Finally, Piper Sandler lifted their price objective on Align Technology from $290.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $338.90.

Get Our Latest Analysis on ALGN

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by insiders.

Align Technology Stock Up 0.5 %

ALGN stock opened at $296.37 on Monday. The business’s 50-day moving average price is $262.43 and its 200-day moving average price is $280.51. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The stock has a market cap of $22.70 billion, a P/E ratio of 50.92, a PEG ratio of 3.07 and a beta of 1.64.

Align Technology Profile

(Free Report)

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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).

See Also

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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