Sequoia Financial Advisors LLC Acquires 679 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sequoia Financial Advisors LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 67.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,679 shares of the medical equipment provider’s stock after purchasing an additional 679 shares during the period. Sequoia Financial Advisors LLC’s holdings in Align Technology were worth $460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its stake in shares of Align Technology by 39.4% in the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 264 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Align Technology by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after acquiring an additional 18,153 shares during the last quarter. Prudential PLC acquired a new stake in Align Technology during the 1st quarter worth about $955,000. Cetera Investment Advisers grew its holdings in Align Technology by 4.9% during the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after acquiring an additional 80 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Align Technology by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock worth $2,592,819,000 after acquiring an additional 75,255 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALGN. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. UBS Group increased their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Finally, Stifel Nicolaus raised 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 given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $339.91.

Align Technology Stock Performance

ALGN stock opened at $300.14 on Thursday. The business has a 50-day simple moving average of $312.61 and a two-hundred day simple moving average of $269.97. The company has a market capitalization of $22.59 billion, a P/E ratio of 51.57, a price-to-earnings-growth ratio of 5.49 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20.

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

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Align Technology Profile

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.