1,772 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,772 shares of the medical equipment provider’s stock, valued at approximately $486,000.

A number of other large investors have also added to or reduced their stakes in the stock. Truist Financial Corp increased its holdings in Align Technology by 24.8% during the fourth quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock worth $3,059,000 after buying an additional 2,220 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Align Technology by 8.6% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,110 shares of the medical equipment provider’s stock worth $578,000 after purchasing an additional 167 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Align Technology by 6.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,024 shares of the medical equipment provider’s stock worth $555,000 after purchasing an additional 131 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Align Technology in the fourth quarter worth about $422,000. Finally, South Dakota Investment Council increased its stake in shares of Align Technology by 412.5% in the fourth quarter. South Dakota Investment Council now owns 4,100 shares of the medical equipment provider’s stock worth $1,123,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction 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 transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Align Technology news, 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 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 can be accessed through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the business’s 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 transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last three months. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALGN shares. The Goldman Sachs Group lifted their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus raised their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group raised their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Piper Sandler restated an “overweight” rating and issued a $375.00 price objective (up from $355.00) on shares of Align Technology in a research report on Thursday. Finally, Robert W. Baird raised their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $341.36.

Align Technology Trading Down 0.5 %

Shares of ALGN stock traded down $1.48 during trading hours on Friday, hitting $309.02. 737,294 shares of the company’s stock were exchanged, compared to its average volume of 636,306. The company has a market capitalization of $23.25 billion, a PE ratio of 50.91, a PEG ratio of 5.56 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The business’s 50 day simple moving average is $313.38 and its 200-day simple moving average is $270.98.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Equities analysts anticipate that Align Technology, Inc. will post 7.69 EPS for the current year.

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.