Parkside Financial Bank & Trust Buys 90 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Parkside Financial Bank & Trust boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.4% during the 4th quarter, HoldingsChannel reports. The fund owned 816 shares of the medical equipment provider’s stock after purchasing an additional 90 shares during the period. Parkside Financial Bank & Trust’s holdings in Align Technology were worth $224,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. HB Wealth Management LLC grew its stake in shares of Align Technology by 17.3% during the third quarter. HB Wealth Management LLC now owns 1,053 shares of the medical equipment provider’s stock valued at $322,000 after buying an additional 155 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of Align Technology by 22.3% in the third quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 215 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in shares of Align Technology by 2.7% in the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock valued at $517,000 after purchasing an additional 44 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Align Technology by 3.1% in the third quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock valued at $663,000 after purchasing an additional 66 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in shares of Align Technology by 7.5% in the third quarter. ARK Investment Management LLC now owns 8,506 shares of the medical equipment provider’s stock valued at $2,597,000 after purchasing an additional 591 shares during the period. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ALGN. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus upped their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group upped their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Piper Sandler upped their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, UBS Group upped their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. One research 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. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.45.

Align Technology Stock Performance

Shares of Align Technology stock traded down $3.48 on Wednesday, hitting $308.40. The company’s stock had a trading volume of 351,701 shares, compared to its average volume of 735,066. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 5.39 and a beta of 1.65. The firm has a fifty day moving average price of $313.14 and a 200-day moving average price of $270.22.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) 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 company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. As a group, analysts forecast that Align Technology, Inc. will post 7.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Joseph Lacob sold 15,000 shares of the business’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 directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the business’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 directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of the business’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 value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,524 shares of company stock worth $8,403,924. Insiders own 0.72% of the company’s stock.

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.