Amalgamated Bank Sells 808 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Amalgamated Bank lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,776 shares of the medical equipment provider’s stock after selling 808 shares during the quarter. Amalgamated Bank’s holdings in Align Technology were worth $5,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ALGN. Huntington National Bank lifted its holdings 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 acquiring an additional 56 shares during the period. Orion Capital Management LLC acquired a new stake in Align Technology in the 3rd quarter valued at $61,000. Operose Advisors LLC bought a new stake in Align Technology in the third quarter valued at $63,000. Covestor Ltd lifted its holdings in shares of Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 49 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Morgan Stanley increased their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. SVB Leerink assumed coverage on Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. The Goldman Sachs Group raised their price objective 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. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $353.00.

Align Technology Stock Performance

Shares of Align Technology stock opened at $287.37 on Tuesday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The firm has a fifty day moving average of $310.63 and a two-hundred day moving average of $271.58. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 5.29 and a beta of 1.66.

Insider Buying and Selling at Align Technology

In other 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 transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction 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 completion of the sale, the executive vice president now 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 this hyperlink. 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 directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.62% of the stock is currently owned by company insiders.

Align Technology Company 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.