Summit Trail Advisors LLC Sells 710 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Summit Trail Advisors LLC lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 42.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 949 shares of the medical equipment provider’s stock after selling 710 shares during the quarter. Summit Trail Advisors LLC’s holdings in Align Technology were worth $260,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. EFG Asset Management Americas Corp. grew its holdings in Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after purchasing an additional 41 shares during the period. Dfpg Investments LLC lifted its holdings in Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 42 shares in the last quarter. Richard W. Paul & Associates LLC grew its stake in Align Technology by 2.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after acquiring an additional 45 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in shares of Align Technology by 4.1% during the third quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 50 shares during the period. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by insiders.

Align Technology Price Performance

ALGN stock opened at $273.65 on Thursday. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 5.29 and a beta of 1.66. The company has a fifty day moving average price of $310.10 and a two-hundred day moving average price of $271.70. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

Analyst Ratings Changes

Several research firms have recently weighed in on ALGN. Stifel Nicolaus upped their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. SVB Leerink started coverage on Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. Robert W. Baird raised their price target on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.00.

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.