Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,215 shares of the medical equipment provider's stock after selling 5,222 shares during the quarter. Nisa Investment Advisors LLC's holdings in Align Technology were worth $5,539,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Align Technology by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider's stock worth $2,592,819,000 after purchasing an additional 75,255 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Align Technology by 2.2% during the first quarter. Geode Capital Management LLC now owns 1,583,410 shares of the medical equipment provider's stock worth $527,928,000 after purchasing an additional 34,131 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Align Technology by 6.8% during the second quarter. Nuveen Asset Management LLC now owns 1,264,074 shares of the medical equipment provider's stock worth $447,027,000 after purchasing an additional 80,731 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Align Technology by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider's stock worth $375,200,000 after purchasing an additional 29,497 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Align Technology by 2.1% during the second quarter. Alliancebernstein L.P. now owns 1,147,330 shares of the medical equipment provider's stock worth $405,742,000 after purchasing an additional 24,139 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ALGN. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their target price on Align Technology from $340.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. UBS Group lifted their price objective on Align Technology from $200.00 to $260.00 and gave the company a "neutral" rating in a report on Tuesday, January 30th. Piper Sandler lifted their price objective on Align Technology from $335.00 to $355.00 and gave the company an "overweight" rating in a report on Thursday, March 14th. Finally, Leerink Partnrs restated 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 issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $334.45.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 10,000 shares of the business's stock in a transaction dated 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 sale, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Lacob sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last quarter. Insiders own 0.72% of the company's stock.

Align Technology Stock Performance

ALGN traded down $2.92 on Thursday, hitting $324.90. The company had a trading volume of 515,568 shares, compared to its average volume of 764,284. The stock has a fifty day moving average price of $310.56 and a 200-day moving average price of $270.08. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 55.82, a P/E/G ratio of 5.76 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Analysts forecast that Align Technology, Inc. will post 7.65 EPS 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.