Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Creative Planning

Creative Planning trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,327 shares of the medical equipment provider’s stock after selling 273 shares during the period. Creative Planning’s holdings in Align Technology were worth $2,493,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALGN. Mather Group LLC. acquired a new stake in Align Technology during the first quarter worth about $26,000. LRI Investments LLC acquired a new stake in Align Technology during the 1st quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the period. Rothschild Investment LLC acquired a new position in Align Technology during the second quarter valued at approximately $26,000. Finally, Innealta Capital LLC purchased a new stake in Align Technology during the second quarter worth approximately $26,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

ALGN opened at $241.35 on Friday. The company has a market capitalization of $18.17 billion, a P/E ratio of 39.76, a PEG ratio of 5.77 and a beta of 1.64. The company has a 50-day moving average of $233.17 and a 200-day moving average of $259.95. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Align Technology’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a research note on Friday, September 13th. Evercore ISI dropped their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Morgan Stanley dropped their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.88.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

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.