Spire Wealth Management Sells 66 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Spire Wealth Management trimmed its stake in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 37.5% in the third quarter, HoldingsChannel.com reports. The firm owned 110 shares of the medical equipment provider’s stock after selling 66 shares during the period. Spire Wealth Management’s holdings in Align Technology were worth $34,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ALGN. Norges Bank acquired a new stake in Align Technology in the fourth quarter valued at $150,692,000. BlackRock Inc. grew its holdings in Align Technology by 4.1% during the 2nd quarter. BlackRock Inc. now owns 5,593,074 shares of the medical equipment provider’s stock worth $1,977,935,000 after acquiring an additional 222,749 shares during the period. Portside Wealth Group LLC acquired a new stake in Align Technology during the 2nd quarter worth about $77,173,000. Jupiter Asset Management Ltd. acquired a new stake in Align Technology during the 2nd quarter worth about $65,182,000. Finally, Penn Capital Management Company LLC acquired a new stake in Align Technology during the 1st quarter worth about $52,560,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the firm’s 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 transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

ALGN has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Morgan Stanley decreased their price target on Align Technology from $415.00 to $378.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Piper Sandler increased their price target on Align Technology from $290.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. UBS Group increased their price target on Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Stifel Nicolaus cut their price objective on shares of Align Technology from $430.00 to $390.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.90.

Check Out Our Latest Analysis on Align Technology

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $302.44 on Tuesday. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market cap of $23.16 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 3.07 and a beta of 1.64. The firm’s 50-day simple moving average is $264.09 and its 200 day simple moving average is $279.92.

About Align Technology

(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

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGNFree Report).

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

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.