Align Technology, Inc. (ALGN) Shares Sold by Smith Asset Management Group LP

Share on StockTwits

Smith Asset Management Group LP cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 41,982 shares of the medical equipment provider’s stock after selling 4,590 shares during the period. Smith Asset Management Group LP’s holdings in Align Technology were worth $16,424,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Sigma Planning Corp grew its holdings in shares of Align Technology by 9.8% during the second quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 136 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Align Technology by 15.9% during the second quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock worth $373,000 after buying an additional 150 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Align Technology by 5.5% during the second quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock worth $992,000 after buying an additional 151 shares in the last quarter. HL Financial Services LLC grew its holdings in shares of Align Technology by 8.0% during the second quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock worth $731,000 after buying an additional 158 shares in the last quarter. Finally, Boston Family Office LLC grew its holdings in shares of Align Technology by 6.7% during the second quarter. Boston Family Office LLC now owns 2,565 shares of the medical equipment provider’s stock worth $878,000 after buying an additional 160 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $382.00, for a total value of $3,820,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Simon Beard sold 3,895 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the completion of the transaction, the senior vice president now directly owns 3,577 shares in the company, valued at approximately $1,375,284.96. The disclosure for this sale can be found here. Insiders sold 55,648 shares of company stock worth $20,577,327 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Shares of ALGN opened at $228.49 on Tuesday. Align Technology, Inc. has a 12-month low of $203.12 and a 12-month high of $398.88. The stock has a market capitalization of $18.45 billion, a P/E ratio of 58.74, a PEG ratio of 1.99 and a beta of 2.00.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The company had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $503.14 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. Align Technology’s revenue for the quarter was up 31.1% compared to the same quarter last year. As a group, research analysts expect that Align Technology, Inc. will post 4.89 EPS for the current fiscal year.

A number of brokerages recently issued reports on ALGN. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $375.00 and gave the company a “buy” rating in a report on Friday, July 13th. Zacks Investment Research lowered shares of Align Technology from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Piper Jaffray Companies upped their price objective on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Finally, Goldman Sachs Group began coverage on shares of Align Technology in a report on Saturday, October 20th. They issued a “buy” rating and a $420.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $354.08.

WARNING: This news story was published by Macon Daily and is the sole property of of Macon Daily. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://macondaily.com/2018/11/06/align-technology-inc-algn-shares-sold-by-smith-asset-management-group-lp.html.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

See Also: Exchange-Traded Funds (ETFs)

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply