Summit Trail Advisors LLC Sells 710 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Summit Trail Advisors LLC trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 42.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 949 shares of the medical equipment provider’s stock after selling 710 shares during the period. Summit Trail Advisors LLC’s holdings in Align Technology were worth $260,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Deepwater Asset Management LLC raised its position in shares of Align Technology by 46.8% in the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after purchasing an additional 15,608 shares during the last quarter. London & Capital Asset Management Ltd raised its holdings in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after acquiring an additional 3,843 shares during the last quarter. Morgan Stanley lifted its position in Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Align Technology by 20.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Align Technology by 24.8% during the fourth quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock valued at $3,059,000 after buying an additional 2,220 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. UBS Group boosted their price target on 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 target price on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average target price of $353.00.

Align Technology Price Performance

NASDAQ:ALGN opened at $273.65 on Thursday. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 5.29 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 stock’s 50 day simple moving average is $310.10 and its two-hundred day simple moving average is $271.70.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by company insiders.

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.