Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 39.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,034 shares of the medical equipment provider’s stock after selling 670 shares during the period. Stratos Wealth Partners LTD.’s holdings in Align Technology were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Raymond James Trust N.A. raised its holdings in shares of Align Technology by 39.4% in the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 264 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Align Technology by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after buying an additional 18,153 shares during the period. Prudential PLC purchased a new stake in shares of Align Technology in the 1st quarter valued at $955,000. Cetera Investment Advisers raised its holdings in shares of Align Technology by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock valued at $747,000 after buying an additional 80 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Align Technology by 17.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock valued at $229,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock was 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 in the last quarter. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of analyst reports. Piper Sandler increased their price target on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. SVB Leerink initiated coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. Stifel Nicolaus increased their price target on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.91.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $304.74 on Tuesday. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The firm has a market capitalization of $22.93 billion, a PE ratio of 52.36, a price-to-earnings-growth ratio of 5.67 and a beta of 1.65. The stock’s 50-day simple moving average is $311.97 and its 200-day simple moving average is $269.75.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Align Technology 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.