Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Ashburton Jersey Ltd

Ashburton Jersey Ltd decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,902 shares of the medical equipment provider’s stock after selling 1,163 shares during the period. Align Technology makes up approximately 0.9% of Ashburton Jersey Ltd’s holdings, making the stock its 23rd biggest position. Ashburton Jersey Ltd’s holdings in Align Technology were worth $1,891,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALGN. Rhenman & Partners Asset Management AB acquired a new stake in Align Technology in the 3rd quarter valued at approximately $305,000. Ameriprise Financial Inc. lifted its holdings in Align Technology by 348.9% in the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares during the period. Invesco Ltd. grew its position in Align Technology by 15.4% in the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after buying an additional 128,273 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Align Technology during the 3rd quarter valued at about $35,499,000. Finally, DAVENPORT & Co LLC lifted its stake in shares of Align Technology by 5,179.5% in the 4th quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock worth $31,576,000 after acquiring an additional 112,499 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALGN shares. UBS Group raised their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Morgan Stanley boosted their price objective on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus lifted their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $353.00.

Align Technology Stock Down 0.0 %

Shares of ALGN traded down $0.05 during trading hours on Thursday, reaching $284.47. The company’s stock had a trading volume of 170,744 shares, compared to its average volume of 751,953. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 46.87, a P/E/G ratio of 5.19 and a beta of 1.66. The company has a 50 day moving average of $312.28 and a two-hundred day moving average of $271.29. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20.

Align Technology (NASDAQ:ALGN) last released 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. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, analysts forecast that Align Technology, Inc. will post 7.92 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction on Thursday, February 29th. The stock was 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 of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 of the company’s stock, valued at $40,023,220.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’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 $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock worth $8,403,924 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

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.