RiverPark Advisors LLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,634 shares of the medical equipment provider’s stock after selling 4,177 shares during the quarter. RiverPark Advisors LLC’s holdings in Align Technology were worth $2,363,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. CAPROCK Group Inc. raised its stake in Align Technology by 13.2% during the fourth quarter. CAPROCK Group Inc. now owns 1,834 shares of the medical equipment provider’s stock valued at $474,000 after buying an additional 214 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Align Technology by 9.1% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,723 shares of the medical equipment provider’s stock worth $735,000 after purchasing an additional 228 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Align Technology by 10.6% in the fourth quarter. Global X Management Co. LLC now owns 2,399 shares of the medical equipment provider’s stock worth $533,000 after purchasing an additional 229 shares during the last quarter. HPM Partners LLC raised its stake in shares of Align Technology by 19.2% in the fourth quarter. HPM Partners LLC now owns 1,533 shares of the medical equipment provider’s stock worth $341,000 after purchasing an additional 247 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Align Technology by 4.6% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,867 shares of the medical equipment provider’s stock worth $1,093,000 after purchasing an additional 257 shares during the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.
In other Align Technology news, VP Emory Wright sold 45,780 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the sale, the vice president now owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Hogan purchased 1,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $233.63 per share, with a total value of $350,445.00. Following the acquisition, the insider now directly owns 42,984 shares of the company’s stock, valued at approximately $10,042,351.92. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The company had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. Align Technology’s revenue for the quarter was up 43.7% compared to the same quarter last year. analysts expect that Align Technology, Inc. will post 4.49 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. Piper Jaffray Companies restated a “buy” rating and issued a $300.00 price target on shares of Align Technology in a research note on Wednesday, January 31st. Vetr cut Align Technology from a “strong-buy” rating to a “buy” rating and set a $302.42 price target for the company. in a research note on Monday. Credit Suisse Group boosted their price target on Align Technology from $276.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Barclays assumed coverage on Align Technology in a research note on Thursday. They issued an “overweight” rating and a $290.00 price target for the company. Finally, BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Align Technology has an average rating of “Buy” and an average price target of $263.56.
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About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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