Mirae Asset Global Investments Co. Ltd. Sells 1,897 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,951 shares of the medical equipment provider’s stock after selling 1,897 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Align Technology were worth $22,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Raymond James Trust N.A. increased its stake in Align Technology by 39.4% in the first 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Align Technology by 11.1% in 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 purchasing an additional 18,153 shares in the last quarter. Prudential PLC bought a new stake in Align Technology in the first quarter valued at $955,000. Cetera Investment Advisers increased its stake in Align Technology by 4.9% in the first quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock valued at $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Align Technology by 17.1% during the first quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock worth $229,000 after acquiring an additional 77 shares in the last quarter. 87.07% of the stock is owned by institutional investors.

Align Technology Stock Up 4.2 %

ALGN opened at $215.24 on Tuesday. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 1.70 and a beta of 1.58. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The company’s 50-day moving average price is $257.33 and its two-hundred day moving average price is $307.45.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.24). The company had revenue of $960.21 million during the quarter, compared to analysts’ expectations of $994.60 million. Align Technology had a net margin of 9.53% and a return on equity of 12.66%. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 6.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALGN shares. Robert W. Baird boosted their target price on shares of Align Technology from $385.00 to $406.00 in a research report on Thursday, July 27th. HSBC started coverage on shares of Align Technology in a research report on Wednesday, August 30th. They set a “buy” rating and a $450.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. Piper Sandler cut their price target on shares of Align Technology from $370.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, Evercore ISI cut their price target on shares of Align Technology from $400.00 to $320.00 in a report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $336.60.

Insider Buying and Selling at Align Technology

In other Align Technology news, CEO Joseph M. Hogan purchased 5,194 shares of the stock in a transaction dated Thursday, November 9th. The shares were bought at an average price of $192.50 per share, with a total value of $999,845.00. Following the completion of the transaction, the chief executive officer now directly owns 208,664 shares in the company, valued at approximately $40,167,820. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Align Technology news, CEO Joseph M. Hogan purchased 5,319 shares of the stock in a transaction dated Tuesday, October 31st. The shares were bought at an average price of $188.00 per share, with a total value of $999,972.00. Following the completion of the transaction, the chief executive officer now directly owns 203,470 shares in the company, valued at approximately $38,252,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph M. Hogan bought 5,194 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $192.50 per share, for a total transaction of $999,845.00. Following the acquisition, the chief executive officer now directly owns 208,664 shares in the company, valued at approximately $40,167,820. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).