HBK Sorce Advisory LLC Has $438,000 Holdings in Align Technology, Inc. (NASDAQ:ALGN)

HBK Sorce Advisory LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,597 shares of the medical equipment provider’s stock after buying an additional 331 shares during the period. HBK Sorce Advisory LLC’s holdings in Align Technology were worth $438,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. KB Financial Partners LLC acquired a new position in shares of Align Technology during the 1st quarter worth about $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Align Technology during the 2nd quarter worth about $29,000. Huntington National Bank boosted 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. First Manhattan CO. LLC. lifted its stake in Align Technology by 593.8% in 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 last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in Align Technology in the 2nd quarter valued at about $44,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Down 0.7 %

Shares of ALGN opened at $327.82 on Thursday. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The firm’s 50 day moving average is $309.53 and its 200-day moving average is $269.70. The stock has a market capitalization of $24.62 billion, a PE ratio of 56.33, a P/E/G ratio of 5.76 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Equities research analysts predict that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALGN. Piper Sandler raised their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. 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 research note on Tuesday, January 30th. SVB Leerink began coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price for the company. Finally, Stifel Nicolaus raised their target price on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $334.45.

Insider Transactions at Align Technology

In other 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 transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the 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 owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.72% of the stock is currently owned by company insiders.

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.