Align Technology, Inc. (NASDAQ:ALGN) Position Decreased by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,106 shares of the medical equipment provider’s stock after selling 62 shares during the quarter. New York Life Investment Management LLC’s holdings in Align Technology were worth $2,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Huntington National Bank raised its position in Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares during the period. Orion Capital Management LLC bought a new stake in Align Technology during the 3rd quarter valued at approximately $61,000. Operose Advisors LLC acquired a new stake in Align Technology in the 3rd quarter valued at approximately $63,000. Covestor Ltd increased its position in Align Technology by 379.5% in the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after buying an additional 167 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 49 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ALGN shares. Morgan Stanley lifted their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $375.00 price objective (up from $355.00) on shares of Align Technology in a report on Thursday, April 25th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.00.

Align Technology Stock Up 0.5 %

Shares of NASDAQ:ALGN opened at $287.87 on Monday. The firm has a market cap of $21.66 billion, a P/E ratio of 47.43, a P/E/G ratio of 5.29 and a beta of 1.66. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The company’s 50-day moving average price is $311.10 and its two-hundred day moving average price is $271.46.

Insider Transactions at Align Technology

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 shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction 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 completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction 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 sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.62% of the company’s stock.

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.