Align Technology, Inc. (ALGN) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,536 shares of the medical equipment provider’s stock after selling 1,231 shares during the period. First Citizens Bank & Trust Co.’s holdings in Align Technology were worth $786,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALGN. Vanguard Group Inc. raised its holdings in shares of Align Technology by 16.5% during the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after acquiring an additional 1,034,254 shares during the period. State Street Corp increased its stake in Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after buying an additional 765,189 shares during the last quarter. Atlantic Trust Group LLC increased its stake in Align Technology by 4,682.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock valued at $119,014,000 after buying an additional 625,576 shares during the last quarter. Janus Henderson Group PLC increased its stake in Align Technology by 200.5% in the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock valued at $89,190,000 after buying an additional 396,426 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Align Technology by 568.4% in the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock valued at $66,271,000 after buying an additional 375,409 shares during the last quarter. Institutional investors and hedge funds own 82.89% of the company’s stock.

Several equities research analysts have issued reports on ALGN shares. Goldman Sachs Group lifted their price target on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Robert W. Baird reiterated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Stifel Nicolaus lifted their price target on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Northcoast Research reiterated a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research note on Monday, October 30th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $236.75.

In other news, CFO John Morici sold 1,500 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the transaction, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now owns 12,213 shares in the company, valued at $3,089,889. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 over the last 90 days. 1.60% of the stock is owned by company insiders.

Align Technology, Inc. (NASDAQ:ALGN) opened at $258.43 on Friday. The firm has a market cap of $20,277.74, a PE ratio of 78.31, a PEG ratio of 1.98 and a beta of 1.43. Align Technology, Inc. has a 52 week low of $88.56 and a 52 week high of $266.41.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. equities research analysts forecast that Align Technology, Inc. will post 3.67 EPS for the current year.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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