ArrowMark Colorado Holdings LLC Sells 286,335 Shares of Align Technology, Inc. $ALGN

ArrowMark Colorado Holdings LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 67.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,128 shares of the medical equipment provider’s stock after selling 286,335 shares during the period. ArrowMark Colorado Holdings LLC owned 0.19% of Align Technology worth $17,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Sentry Investment Management LLC increased its position in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Align Technology in the third quarter worth $26,000. Rothschild Investment LLC lifted its position in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 87 shares during the last quarter. Quent Capital LLC purchased a new position in Align Technology during the third quarter worth $30,000. Finally, TD Private Client Wealth LLC boosted its stake in Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 137 shares during the period. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALGN. Morgan Stanley increased their target price on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Mizuho increased their price objective on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Stifel Nicolaus boosted their target price on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Leerink Partners upped their target price on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.08.

Align Technology Trading Down 1.6%

NASDAQ ALGN opened at $164.23 on Friday. The company’s 50-day moving average price is $175.96 and its 200-day moving average price is $153.25. The stock has a market cap of $11.71 billion, a PE ratio of 29.02, a PEG ratio of 1.79 and a beta of 1.79. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $2.44 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.