Signaturefd LLC Sells 399 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Signaturefd LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 895 shares of the medical equipment provider’s stock after selling 399 shares during the quarter. Signaturefd LLC’s holdings in Align Technology were worth $245,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Rhenman & Partners Asset Management AB acquired a new position in shares of Align Technology in the 3rd quarter worth approximately $305,000. Ameriprise Financial Inc. lifted its holdings in Align Technology by 348.9% in the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock valued at $230,938,000 after buying an additional 587,886 shares during the period. Invesco Ltd. boosted its position in Align Technology by 15.4% during the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after acquiring an additional 128,273 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Align Technology during the 3rd quarter worth about $35,499,000. Finally, DAVENPORT & Co LLC raised its position in shares of Align Technology by 5,179.5% in the 4th quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock worth $31,576,000 after acquiring an additional 112,499 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 0.5 %

Shares of NASDAQ:ALGN opened at $309.02 on Friday. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 5.62 and a beta of 1.65. The business’s 50 day moving average is $313.38 and its 200 day moving average is $270.98. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its earnings results 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 net margin of 11.80% and a return on equity of 14.22%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. As a group, equities research analysts expect that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on ALGN. The Goldman Sachs Group raised their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. Stifel Nicolaus increased their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley boosted their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $341.36.

Insiders Place Their Bets

In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 in the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

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.