Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 30.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 764 shares of the medical equipment provider’s stock after selling 336 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Align Technology were worth $209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Deepwater Asset Management LLC raised its holdings in shares of Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after acquiring an additional 15,608 shares during the last quarter. London & Capital Asset Management Ltd lifted its holdings in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after purchasing an additional 3,843 shares in the last quarter. Morgan Stanley lifted its holdings in Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Align Technology by 24.8% during the 4th quarter. Truist Financial Corp now owns 11,165 shares of the medical equipment provider’s stock worth $3,059,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Align Technology by 20.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after buying an additional 5,759 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by insiders.

Align Technology Stock Up 0.2 %

ALGN opened at $281.00 on Friday. The company has a 50 day moving average of $309.52 and a two-hundred day moving average of $271.71. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a market cap of $21.15 billion, a P/E ratio of 46.19, a P/E/G ratio of 5.29 and a beta of 1.66.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALGN shares. Robert W. Baird raised their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Morgan Stanley increased their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Piper Sandler restated an “overweight” rating and issued a $375.00 price target (up previously from $355.00) on shares of Align Technology in a report on Thursday, April 25th. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. One equities research 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’s stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

About Align Technology

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.