American National Insurance Co. Sells 25 Shares of Align Technology, Inc. (NASDAQ:ALGN)

American National Insurance Co. lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,170 shares of the medical equipment provider’s stock after selling 25 shares during the period. American National Insurance Co.’s holdings in Align Technology were worth $10,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenleaf Trust grew its position in shares of Align Technology by 5.1% in the 2nd quarter. Greenleaf Trust now owns 1,088 shares of the medical equipment provider’s stock valued at $665,000 after acquiring an additional 53 shares during the period. CWM Advisors LLC raised its stake in Align Technology by 19.3% in the second quarter. CWM Advisors LLC now owns 8,287 shares of the medical equipment provider’s stock valued at $5,063,000 after buying an additional 1,342 shares during the period. Cresset Asset Management LLC lifted its position in shares of Align Technology by 87.2% in the second quarter. Cresset Asset Management LLC now owns 2,024 shares of the medical equipment provider’s stock valued at $1,237,000 after buying an additional 943 shares during the last quarter. Employees Retirement System of Texas increased its holdings in shares of Align Technology by 27.3% during the 2nd quarter. Employees Retirement System of Texas now owns 14,000 shares of the medical equipment provider’s stock worth $8,554,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Midwest Professional Planners LTD. bought a new stake in Align Technology in the 2nd quarter valued at $373,000. 83.32% of the stock is owned by institutional investors.

In related news, Director C Raymond Larkin, Jr. sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $650.00, for a total value of $1,625,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Emory Wright sold 6,404 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $706.58, for a total value of $4,524,938.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,186 shares of company stock valued at $18,568,508. 0.70% of the stock is owned by company insiders.

A number of analysts have recently issued reports on the stock. Credit Suisse Group raised their target price on shares of Align Technology from $715.00 to $732.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Piper Sandler upped their target price on Align Technology from $735.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. William Blair reissued an “outperform” rating on shares of Align Technology in a report on Thursday, July 29th. Stephens raised Align Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $600.00 to $700.00 in a report on Friday, July 9th. Finally, BNP Paribas initiated coverage on Align Technology in a research report on Thursday, July 8th. They set an “outperform” rating and a $790.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Align Technology has an average rating of “Buy” and a consensus price target of $680.71.

Shares of ALGN traded down $7.31 during mid-day trading on Friday, reaching $720.98. 4,679 shares of the stock traded hands, compared to its average volume of 586,997. Align Technology, Inc. has a 1 year low of $297.44 and a 1 year high of $735.17. The company has a market cap of $56.97 billion, a price-to-earnings ratio of 82.95, a price-to-earnings-growth ratio of 2.98 and a beta of 1.68. The firm has a fifty day moving average price of $681.65 and a 200 day moving average price of $613.80.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, July 27th. The medical equipment provider reported $3.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.91. Align Technology had a return on equity of 21.42% and a net margin of 20.10%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $942.26 million. Equities analysts anticipate that Align Technology, Inc. will post 9.1 EPS for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.

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

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