CNB Bank Has $105,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

CNB Bank reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 59.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 383 shares of the medical equipment provider’s stock after selling 558 shares during the period. CNB Bank’s holdings in Align Technology were worth $105,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of 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 shares of Align Technology in the second quarter valued at approximately $29,000. First Manhattan CO. LLC. raised its holdings in shares of Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares during the last quarter. Huntington National Bank raised its holdings in shares of Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology in the third quarter valued at approximately $61,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the last ninety days. 0.64% of the stock is currently owned by company insiders.

Align Technology Price Performance

ALGN stock traded down $2.36 during midday trading on Friday, reaching $298.98. 520,396 shares of the company were exchanged, compared to its average volume of 520,035. The business has a 50-day moving average price of $312.79 and a two-hundred day moving average price of $270.18. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 5.40 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. As a group, analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALGN shares. SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler boosted their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus boosted their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $344.45.

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.