Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 14.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,556 shares of the medical equipment provider’s stock after selling 1,619 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Align Technology were worth $2,618,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KB Financial Partners LLC acquired a new stake in Align Technology during the 1st quarter worth approximately $26,000. Cornerstone Planning Group LLC acquired a new stake in Align Technology during the 2nd quarter worth approximately $29,000. First Manhattan CO. LLC. lifted its holdings in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares in the last quarter. Huntington National Bank lifted its holdings in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Align Technology during the 3rd quarter worth approximately $61,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

NASDAQ ALGN opened at $298.98 on Friday. The firm’s fifty day moving average price is $312.79 and its 200 day moving average price is $270.18. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 5.37 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (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 for the quarter, compared to the consensus estimate of $928.57 million. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Transactions at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were 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 in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the firm’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 completion of the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm’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 completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,524 shares of company stock worth $8,403,924. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALGN shares. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group raised their price objective 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. UBS Group raised their price objective 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. Piper Sandler raised their price objective on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus raised their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $344.45.

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.