Align Technology, Inc. $ALGN Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. cut its stake in Align Technology by 87.1% in Q4, selling 28,473 shares and leaving 4,224 shares valued at $667,000, while institutional investors still own about 88.43% of ALGN.
• Brokerages have been lifting targets and remain broadly positive—there are eight Buy and six Hold ratings, with a MarketBeat average rating of Moderate Buy and an average target price of $203.92.
• Align beat quarterly expectations (EPS $3.29 vs. $2.99; revenue $1.05B vs. $1.03B) and trades around $189.61 with a market cap of $13.58B and a 52‑week range of $122–$208.30.

Asset Management One Co. Ltd. cut its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 87.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,224 shares of the medical equipment provider's stock after selling 28,473 shares during the period. Asset Management One Co. Ltd.'s holdings in Align Technology were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Align Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider's stock valued at $1,039,528,000 after acquiring an additional 58,546 shares during the last quarter. Capital International Investors increased its position in shares of Align Technology by 88.6% during the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider's stock worth $381,968,000 after acquiring an additional 1,433,393 shares during the period. Ninety One UK Ltd grew its position in shares of Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider's stock worth $283,898,000 after buying an additional 350,883 shares in the last quarter. Invesco Ltd. lifted its position in shares of Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider's stock worth $187,521,000 after purchasing an additional 407,559 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Align Technology during the 3rd quarter worth about $179,035,000. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALGN. Leerink Partners upped their target price on Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Stifel Nicolaus raised their price objective on shares of Align Technology from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Align Technology in a research report on Wednesday, April 15th. Jefferies Financial Group boosted their target price on Align Technology from $155.00 to $185.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company raised their price target on Align Technology from $181.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $203.92.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company's stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company's stock.

Align Technology Stock Down 0.6%

ALGN opened at $189.61 on Friday. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.81. The company's 50-day moving average price is $179.78 and its 200 day moving average price is $162.64. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. Research analysts anticipate that Align Technology, Inc. will post 9.15 earnings per share for the current year.

About Align Technology

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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