Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Greenleaf Trust

Greenleaf Trust trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 32.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,237 shares of the medical equipment provider’s stock after selling 597 shares during the period. Greenleaf Trust’s holdings in Align Technology were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dfpg Investments LLC increased its position in Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after purchasing an additional 42 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in Align Technology by 2.7% during the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock worth $517,000 after purchasing an additional 44 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after purchasing an additional 45 shares during the last quarter. Valley National Advisers Inc. increased its position in Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 49 shares during the last quarter. Finally, Jag Capital Management LLC increased its position in Align Technology by 4.1% during the third quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 50 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALGN. The Goldman Sachs Group raised their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price for the company. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Piper Sandler increased their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $344.45.

Insider Activity

In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.72% of the stock is currently owned by company insiders.

Align Technology Stock Performance

NASDAQ ALGN opened at $311.88 on Wednesday. The firm has a 50 day simple moving average of $313.14 and a 200-day simple moving average of $270.22. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 5.35 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted 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 business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Equities analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

About Align Technology

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.