State of Alaska Department of Revenue Has $4.31 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

State of Alaska Department of Revenue lowered its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,714 shares of the medical equipment provider’s stock after selling 1,035 shares during the period. State of Alaska Department of Revenue’s holdings in Align Technology were worth $4,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALGN. Raymond James Trust N.A. increased its holdings in Align Technology by 39.4% in the first 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Align Technology by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock worth $78,911,000 after buying an additional 18,153 shares during the last quarter. Prudential PLC acquired a new position in Align Technology in the first quarter worth approximately $955,000. Cetera Investment Advisers increased its holdings in Align Technology by 4.9% in the first quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after buying an additional 80 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Align Technology by 17.1% in the first quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock worth $229,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 2.4 %

ALGN opened at $312.07 on Wednesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 5.90 and a beta of 1.65. The business has a 50 day moving average of $301.92 and a 200-day moving average of $269.14.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Equities analysts predict that Align Technology, Inc. will post 7.65 EPS for the current year.

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the last ninety days. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on ALGN. Stifel Nicolaus increased their price objective on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Piper Sandler upped their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. UBS Group upped their target price on Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, The Goldman Sachs Group upped their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. One equities 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 company’s stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $334.45.

View Our Latest Stock Analysis on ALGN

About Align Technology

(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.

Recommended Stories

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

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.