1,007 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by Keel Point LLC

Keel Point LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,007 shares of the medical equipment provider’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALGN. Raymond James Trust N.A. grew its position in shares of Align Technology by 39.4% during the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 264 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Align Technology by 11.1% during the 1st 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 during the period. Prudential PLC bought a new stake in shares of Align Technology in the 1st quarter valued at about $955,000. Cetera Investment Advisers lifted its position in shares of Align Technology by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after purchasing an additional 80 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake 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 valued at $229,000 after purchasing an additional 77 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Align Technology stock opened at $305.10 on Wednesday. The company has a fifty day moving average price of $312.30 and a two-hundred day moving average price of $269.75. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The company has a market cap of $22.96 billion, a PE ratio of 52.42, a P/E/G ratio of 5.67 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. Equities research analysts anticipate that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $46,010,591.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. SVB Leerink started coverage on Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Piper Sandler raised their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Stifel Nicolaus increased their price target on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $339.91.

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.