Align Technology, Inc. (NASDAQ:ALGN) Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,682 shares of the medical equipment provider’s stock after selling 1,263 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Align Technology were worth $4,297,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALGN. KB Financial Partners LLC acquired a new position in shares of Align Technology in the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Align Technology in the 2nd quarter valued at about $29,000. Huntington National Bank boosted its holdings in shares of Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares during the period. First Manhattan CO. LLC. boosted its holdings in shares of Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 95 shares during the period. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Align Technology in the 2nd quarter valued at about $44,000. 88.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Align Technology Trading Down 2.5 %

ALGN stock opened at $319.65 on Tuesday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 54.92, a price-to-earnings-growth ratio of 5.90 and a beta of 1.65. The firm’s 50-day moving average is $300.96 and its two-hundred day moving average is $269.23.

Align Technology (NASDAQ:ALGNGet Free Report) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, equities research analysts predict that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the subject of several research reports. UBS Group lifted their price target on shares of Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Piper Sandler boosted their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus boosted their target price 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 reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $334.45.

Read Our Latest Research Report on ALGN

Align Technology Company Profile

(Free Report)

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.

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

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