Sumitomo Mitsui Trust Holdings Inc. Sells 6,519 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,918 shares of the medical equipment provider’s stock after selling 6,519 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Align Technology were worth $47,928,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KB Financial Partners LLC bought a new position in Align Technology in the 1st quarter worth $26,000. Cornerstone Planning Group LLC bought a new position in Align Technology in the 2nd quarter worth $29,000. Huntington National Bank raised its holdings in Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 56 shares in the last quarter. First Manhattan CO. LLC. raised its holdings in Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 95 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in Align Technology in the 3rd quarter worth $61,000. 88.43% of the stock is currently owned by institutional investors.

Insider Activity at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated 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 directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by insiders.

Align Technology Stock Performance

Shares of ALGN stock opened at $298.98 on Friday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The company’s 50-day moving average is $312.79 and its 200 day moving average is $270.18. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 5.37 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $928.57 million. As a group, research analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ALGN shares. SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler upped 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. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, UBS Group upped their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.45.

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.