Vestmark Advisory Solutions Inc. Has $427,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Vestmark Advisory Solutions Inc. cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 35.3% during the 4th quarter, Holdings Channel reports. The fund owned 1,559 shares of the medical equipment provider’s stock after selling 851 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Align Technology were worth $427,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ALGN. Huntington National Bank raised its position in shares of 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 purchasing an additional 56 shares during the period. Orion Capital Management LLC acquired a new position in Align Technology during the third quarter worth $61,000. Operose Advisors LLC bought a new position in shares of Align Technology in the third quarter valued at $63,000. Covestor Ltd grew its holdings in shares of Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’s 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 sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Align Technology Price Performance

NASDAQ ALGN opened at $287.37 on Tuesday. The business’s fifty day moving average is $310.63 and its 200-day moving average is $271.58. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 5.29 and a beta of 1.66. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALGN. Piper Sandler reaffirmed an “overweight” rating and issued a $375.00 price target (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. Stifel Nicolaus lifted their target price on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Finally, Robert W. Baird increased their target price on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $353.00.

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.