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

Legacy Trust reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,991 shares of the medical equipment provider’s stock after selling 1,700 shares during the quarter. Legacy Trust’s holdings in Align Technology were worth $3,126,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ALGN. Washington Capital Management Inc. acquired a new position in Align Technology in the fourth quarter worth $313,000. Swedbank AB lifted its position in Align Technology by 25.0% during the 4th quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock worth $101,392,000 after buying an additional 97,152 shares in the last quarter. Blue Trust Inc. grew its holdings in Align Technology by 41.4% during the 4th quarter. Blue Trust Inc. now owns 803 shares of the medical equipment provider’s stock worth $167,000 after acquiring an additional 235 shares during the last quarter. Inspire Investing LLC increased its position in Align Technology by 11.1% in the 4th quarter. Inspire Investing LLC now owns 1,260 shares of the medical equipment provider’s stock valued at $263,000 after acquiring an additional 126 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Align Technology by 174.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 631 shares of the medical equipment provider’s stock valued at $132,000 after acquiring an additional 401 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Jefferies Financial Group cut their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Mizuho started coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Finally, Stifel Nicolaus dropped 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.45.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $224.45 on Thursday. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The stock has a market cap of $16.76 billion, a P/E ratio of 38.30, a P/E/G ratio of 5.14 and a beta of 1.67. The firm has a 50 day moving average price of $223.13 and a 200 day moving average price of $227.22.

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.