Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 35.6% in the first quarter, HoldingsChannel.com reports. The fund owned 736 shares of the medical equipment provider’s stock after selling 406 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Align Technology were worth $246,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Align Technology by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock worth $2,592,819,000 after acquiring an additional 75,255 shares during the period. Sands Capital Management LLC lifted its position in Align Technology by 14.9% during the 4th quarter. Sands Capital Management LLC now owns 2,660,870 shares of the medical equipment provider’s stock worth $561,177,000 after acquiring an additional 345,647 shares during the period. Geode Capital Management LLC lifted its position in Align Technology by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 1,583,410 shares of the medical equipment provider’s stock worth $527,928,000 after acquiring an additional 34,131 shares during the period. Brown Advisory Inc. raised its position in Align Technology by 22.9% during the fourth quarter. Brown Advisory Inc. now owns 1,145,543 shares of the medical equipment provider’s stock valued at $241,595,000 after acquiring an additional 213,782 shares in the last quarter. Finally, Morgan Stanley raised its position in Align Technology by 14.0% during the fourth quarter. Morgan Stanley now owns 1,064,281 shares of the medical equipment provider’s stock valued at $224,457,000 after acquiring an additional 131,006 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $325.32 on Tuesday. Align Technology, Inc. has a one year low of $172.05 and a one year high of $413.20. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 79.93, a PEG ratio of 2.64 and a beta of 1.63. The stock has a 50 day moving average price of $354.79 and a 200 day moving average price of $331.92.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.09. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $985.87 million. Align Technology had a return on equity of 11.42% and a net margin of 8.40%. On average, analysts predict that Align Technology, Inc. will post 7.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALGN shares. Stifel Nicolaus boosted their price target on Align Technology from $390.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Piper Sandler boosted their price target on Align Technology from $370.00 to $415.00 in a report on Thursday, July 27th. Jefferies Financial Group boosted their price target on Align Technology from $367.00 to $400.00 in a report on Thursday, July 27th. Morgan Stanley boosted their price target on Align Technology from $383.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Robert W. Baird boosted their price objective on Align Technology from $385.00 to $406.00 in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $380.33.

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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).