Sumitomo Mitsui Trust Holdings Inc. Sells 6,519 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 174,918 shares of the medical equipment provider's stock after selling 6,519 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of Align Technology worth $47,928,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. KB Financial Partners LLC acquired a new stake in shares of Align Technology in the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at approximately $29,000. Huntington National Bank grew its holdings 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. First Manhattan CO. LLC. grew its holdings 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. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Align Technology during the 3rd quarter valued at approximately $61,000. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Down 0.8 %

ALGN stock traded down $2.36 during mid-day trading on Friday, reaching $298.98. The company's stock had a trading volume of 520,396 shares, compared to its average volume of 520,035. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The business's 50 day moving average price is $312.79 and its 200 day moving average price is $270.04. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 5.40 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. As a group, equities analysts expect that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

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 transaction of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares of the company's stock, valued at $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred 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 sale, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALGN shares. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, April 15th. Stifel Nicolaus lifted their price target on Align Technology from $350.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group upped their price objective on Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a research note on Friday, February 2nd. Piper Sandler lifted their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, March 14th. Finally, Leerink Partnrs reaffirmed a "market perform" rating on shares of Align Technology in a research note 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $344.45.

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.