Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Greenleaf Trust

Greenleaf Trust decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 32.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,237 shares of the medical equipment provider’s stock after selling 597 shares during the period. Greenleaf Trust’s holdings in Align Technology were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ALGN. HB Wealth Management LLC raised its stake in Align Technology by 17.3% in the 3rd quarter. HB Wealth Management LLC now owns 1,053 shares of the medical equipment provider’s stock valued at $322,000 after purchasing an additional 155 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Align Technology by 22.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 215 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Align Technology by 2.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock valued at $517,000 after purchasing an additional 44 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Align Technology by 3.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock valued at $663,000 after acquiring an additional 66 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in shares of Align Technology by 7.5% during the 3rd quarter. ARK Investment Management LLC now owns 8,506 shares of the medical equipment provider’s stock valued at $2,597,000 after acquiring an additional 591 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink assumed coverage on shares of 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. The Goldman Sachs Group upped their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Piper Sandler upped their price objective 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. Finally, Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. 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 company’s stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $344.45.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $311.88 on Wednesday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The stock has a market capitalization of $23.47 billion, a P/E ratio of 53.59, a PEG ratio of 5.35 and a beta of 1.65. The stock has a 50-day simple moving average of $313.14 and a 200-day simple moving average of $270.22.

Align Technology (NASDAQ:ALGN) last released 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. The firm had revenue of $956.73 million during 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%. Analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. 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 90 days. 0.72% of the stock is owned by company 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.