Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,741 shares of the medical equipment provider’s stock after purchasing an additional 3,247 shares during the period. FourThought Financial Partners LLC’s holdings in Align Technology were worth $3,491,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EFG Asset Management Americas Corp. grew its holdings in shares of Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after buying an additional 41 shares in the last quarter. Dfpg Investments LLC increased its stake in Align Technology by 3.3% in the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after buying an additional 42 shares during the period. Richard W. Paul & Associates LLC lifted its position in Align Technology by 2.8% in the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after buying an additional 45 shares in the last quarter. Valley National Advisers Inc. lifted its position in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 49 shares in the last quarter. Finally, Jag Capital Management LLC boosted its stake in shares of Align Technology by 4.1% during the 3rd quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock valued at $384,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’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 transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’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 transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last 90 days. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

ALGN has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler reiterated an “overweight” rating and set a $375.00 price target (up from $355.00) on shares of Align Technology in a report on Thursday, April 25th. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. UBS Group lifted their target price 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. Finally, Morgan Stanley boosted their target price on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $353.00.

Align Technology Price Performance

NASDAQ:ALGN traded up $1.33 during midday trading on Friday, reaching $287.87. The stock had a trading volume of 353,639 shares, compared to its average volume of 699,892. The stock has a market capitalization of $21.66 billion, a P/E ratio of 47.43, a PEG ratio of 5.27 and a beta of 1.66. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The firm’s fifty day simple moving average is $311.68 and its 200-day simple moving average is $271.39.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The company had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.

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.