Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Bares Capital Management Inc.

Bares Capital Management Inc. decreased its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 462,911 shares of the medical equipment provider’s stock after selling 87,725 shares during the period. Align Technology accounts for 6.0% of Bares Capital Management Inc.’s portfolio, making the stock its 7th largest position. Bares Capital Management Inc.’s holdings in Align Technology were worth $141,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in shares of Align Technology in the 2nd quarter valued at $27,000. KB Financial Partners LLC bought a new stake in Align Technology in the first quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new position in Align Technology in the second quarter valued at about $29,000. First Manhattan CO. LLC. lifted its stake in Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 95 shares during the period. Finally, Huntington National Bank boosted its holdings in Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALGN. SVB Leerink assumed coverage on Align Technology in a research note on Monday. They issued a “market perform” rating and a $310.00 price target for the company. Piper Sandler upped their target price on shares of Align Technology from $290.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. UBS Group lifted their price target on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Hold” and a consensus price target of $336.27.

View Our Latest Stock Report on Align Technology

Align Technology Stock Performance

NASDAQ ALGN traded down $10.67 during trading on Wednesday, hitting $302.39. The stock had a trading volume of 557,407 shares, compared to its average volume of 932,994. 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 $280.45 and its two-hundred day moving average price is $275.66. The company has a market capitalization of $23.16 billion, a PE ratio of 53.79, a P/E/G ratio of 3.22 and a beta of 1.64.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. As a group, equities analysts anticipate that Align Technology, Inc. will post 7.72 earnings per share for the current fiscal year.

About Align Technology

(Free Report)

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).

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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