Trifecta Capital Advisors LLC Sells 210 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Trifecta Capital Advisors LLC trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,946 shares of the medical equipment provider’s stock after selling 210 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Align Technology were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ALGN. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Align Technology by 4,391.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after acquiring an additional 477,380 shares in the last quarter. Swedbank AB acquired a new position in Align Technology in the first quarter worth $96,117,000. Bares Capital Management Inc. grew its holdings in shares of Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after purchasing an additional 252,220 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Align Technology by 127.4% in the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock valued at $82,934,000 after buying an additional 192,474 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Align Technology by 371.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock valued at $71,742,000 after buying an additional 172,330 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

ALGN has been the topic of several research reports. Piper Sandler reduced their price target on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley decreased 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. Evercore ISI dropped their price objective on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus reduced their price objective on Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $291.25.

Align Technology Stock Performance

ALGN opened at $216.02 on Friday. The company has a fifty day moving average price of $234.48 and a two-hundred day moving average price of $254.22. The firm has a market capitalization of $16.26 billion, a PE ratio of 35.59, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week 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 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 earnings per share. Equities analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Align Technology Company 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.