Align Technology, Inc. (NASDAQ:ALGN) Stock Holdings Decreased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257 shares of the medical equipment provider’s stock after selling 66 shares during the period. Pallas Capital Advisors LLC’s holdings in Align Technology were worth $344,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ALGN. Chicago Capital LLC purchased a new position in Align Technology during the fourth quarter valued at approximately $331,000. Mendota Financial Group LLC grew its position in Align Technology by 73.4% during the fourth quarter. Mendota Financial Group LLC now owns 534 shares of the medical equipment provider’s stock valued at $146,000 after purchasing an additional 226 shares in the last quarter. WASHINGTON TRUST Co grew its position in Align Technology by 41.2% during the fourth quarter. WASHINGTON TRUST Co now owns 363 shares of the medical equipment provider’s stock valued at $99,000 after purchasing an additional 106 shares in the last quarter. Deepwater Asset Management LLC grew its position in Align Technology by 46.8% during the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after purchasing an additional 15,608 shares in the last quarter. Finally, Yarbrough Capital LLC grew its position in Align Technology by 206.5% during the fourth quarter. Yarbrough Capital LLC now owns 2,556 shares of the medical equipment provider’s stock valued at $700,000 after purchasing an additional 1,722 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Trading Down 2.4 %

Shares of Align Technology stock opened at $312.07 on Wednesday. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 5.90 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The firm has a fifty day simple moving average of $301.92 and a 200-day simple moving average of $269.14.

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, beating the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. As a group, research analysts predict that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Insider Activity at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the company’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 completion of the transaction, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Align Technology news, 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 value of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last ninety days. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALGN has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler boosted their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price for the company. Finally, UBS Group boosted their target price on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $334.45.

Read Our Latest Report on ALGN

Align Technology 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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