DAVENPORT & Co LLC Purchases 112,499 Shares of Align Technology, Inc. (NASDAQ:ALGN)

DAVENPORT & Co LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 5,179.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,671 shares of the medical equipment provider's stock after acquiring an additional 112,499 shares during the period. DAVENPORT & Co LLC owned approximately 0.15% of Align Technology worth $31,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KB Financial Partners LLC purchased a new stake in shares of Align Technology in the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $29,000. First Manhattan CO. LLC. increased its position in shares of Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider's stock valued at $37,000 after purchasing an additional 95 shares during the last quarter. Huntington National Bank increased its position in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 56 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of Align Technology during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a research report on Friday, February 2nd. UBS Group increased their price objective on Align Technology from $200.00 to $260.00 and gave the company a "neutral" rating in a research report on Tuesday, January 30th. SVB Leerink initiated coverage on Align Technology in a research report on Monday, February 26th. They set a "market perform" rating and a $310.00 price objective on the stock. Stifel Nicolaus increased their price objective on Align Technology from $340.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, March 15th. Finally, Leerink Partnrs restated a "market perform" rating on shares of Align Technology in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $334.45.

Insider Activity

In other news, Director Joseph Lacob sold 10,000 shares of the firm'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 owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Emory Wright sold 2,524 shares of Align Technology 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 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 sold a total of 27,524 shares of company stock worth $8,403,924 in the last quarter. 0.72% of the stock is owned by company insiders.

Align Technology Trading Down 0.6 %

Shares of ALGN stock traded down $1.96 during trading hours on Wednesday, reaching $310.11. The company's stock had a trading volume of 527,049 shares, compared to its average volume of 776,859. The stock has a market capitalization of $23.29 billion, a P/E ratio of 53.42, a P/E/G ratio of 5.75 and a beta of 1.65. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The firm's fifty day simple moving average is $302.83 and its 200 day simple moving average is $269.00.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

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.