Legacy Trust Sells 1,700 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Legacy Trust lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,991 shares of the medical equipment provider’s stock after selling 1,700 shares during the period. Legacy Trust’s holdings in Align Technology were worth $3,126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Quarry LP lifted its position in Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Align Technology during the 2nd quarter worth about $31,000. Neo Ivy Capital Management bought a new position in shares of Align Technology in the 3rd quarter valued at about $32,000. Finally, CVA Family Office LLC increased its position in shares of Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Stifel Nicolaus cut their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $267.45.

Align Technology Stock Down 0.8 %

Shares of ALGN stock opened at $224.45 on Thursday. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The company has a market capitalization of $16.76 billion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 5.14 and a beta of 1.67. The firm has a 50 day moving average price of $223.13 and a two-hundred day moving average price of $227.22.

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.