Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 82.7% in the fourth quarter, Holdings Channel reports. The fund owned 13,523 shares of the medical equipment provider’s stock after selling 64,649 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Align Technology were worth $3,705,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Deepwater Asset Management LLC raised its holdings in Align Technology by 46.8% in the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after acquiring an additional 15,608 shares during the last quarter. Morgan Stanley grew its stake in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after buying an additional 90,581 shares during the period. Country Trust Bank grew its stake in shares of Align Technology by 27.7% in the 4th quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock valued at $22,147,000 after buying an additional 17,515 shares during the period. Factory Mutual Insurance Co. grew its stake in shares of Align Technology by 26.3% in the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock valued at $39,262,000 after buying an additional 29,800 shares during the period. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Align Technology in the 3rd quarter valued at approximately $191,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’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 value of $725,523.80. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Emory Wright sold 2,524 shares of the firm’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 directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target 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 increased their price target 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. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus increased their price target 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, SVB Leerink began coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.91.

Align Technology Stock Performance

NASDAQ:ALGN opened at $305.10 on Wednesday. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market capitalization of $22.96 billion, a P/E ratio of 52.42, a PEG ratio of 5.67 and a beta of 1.65. The company has a 50 day moving average price of $312.30 and a 200 day moving average price of $269.75.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Research analysts forecast that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

About Align Technology

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.