Nisa Investment Advisors LLC Decreases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Nisa Investment Advisors LLC trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,215 shares of the medical equipment provider’s stock after selling 5,222 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Align Technology were worth $5,539,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALGN. KB Financial Partners LLC acquired a new stake in shares of Align Technology during the first quarter worth $26,000. Cornerstone Planning Group LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $29,000. First Manhattan CO. LLC. boosted its position 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 in the last quarter. Huntington National Bank boosted its position 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 valued at $35,000 after purchasing an additional 56 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of Align Technology during the 2nd quarter valued at about $44,000. 88.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology 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 sale, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s 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 sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the business’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 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. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Align Technology Trading Down 0.7 %

Shares of Align Technology stock opened at $327.82 on Thursday. The company’s fifty day simple moving average is $309.53 and its 200-day simple moving average is $269.70. The company has a market cap of $24.62 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 5.76 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20.

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, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. As a group, research analysts forecast that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALGN shares. Stifel Nicolaus raised their price objective on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 15th. UBS Group raised their target price on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler raised their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, The Goldman Sachs Group raised their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average target price of $334.45.

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.