Short Interest in Align Technology, Inc. (NASDAQ:ALGN) Declines By 13.9%

Align Technology, Inc. (NASDAQ:ALGNGet Free Report) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,420,000 shares, a drop of 13.9% from the February 29th total of 1,650,000 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 780,900 shares, the short-interest ratio is currently 1.8 days.

Insider Activity at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the firm’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 transaction, the director now 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 available at this link. In other Align Technology news, 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 transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the 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 sale, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. 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 ninety days. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALGN. Metropolitan Life Insurance Co NY raised its stake in Align Technology by 0.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider’s stock worth $886,000 after purchasing an additional 31 shares during the period. EFG Asset Management Americas Corp. increased its holdings in shares of Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after buying an additional 41 shares during the last quarter. Dfpg Investments LLC raised its position in shares of Align Technology by 3.3% in the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after buying an additional 42 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Align Technology by 2.7% in the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock valued at $517,000 after acquiring an additional 44 shares during the last quarter. Finally, Fund Management at Engine No. 1 LLC grew its position in Align Technology by 5.1% during the second quarter. Fund Management at Engine No. 1 LLC now owns 926 shares of the medical equipment provider’s stock valued at $327,000 after acquiring an additional 45 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Up 0.0 %

Shares of Align Technology stock opened at $327.92 on Friday. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The business’s fifty day moving average is $299.73 and its two-hundred day moving average is $270.02. The firm has a market cap of $24.63 billion, a PE ratio of 56.34, a P/E/G ratio of 5.90 and a beta of 1.65.

Align Technology (NASDAQ:ALGNGet Free Report) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Equities research analysts anticipate that Align Technology will post 7.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several analyst reports. SVB Leerink assumed coverage on Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective for the company. UBS Group raised their target price on shares of Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler raised their price objective on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus upped their target price on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Get Our Latest Analysis on ALGN

About Align Technology

(Get 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, 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.

Featured Articles

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.