Conestoga Capital Advisors LLC Has $30,228,000 Stake in Align Technology Inc. (ALGN)
Conestoga Capital Advisors LLC cut its stake in Align Technology Inc. (NASDAQ:ALGN) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 322,435 shares of the company’s stock after selling 78,185 shares during the period. Align Technology makes up about 2.1% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 23rd largest position. Conestoga Capital Advisors LLC owned 0.40% of Align Technology worth $30,228,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Align Technology by 5.7% in the first quarter. Geode Capital Management LLC now owns 473,097 shares of the company’s stock valued at $34,388,000 after buying an additional 25,559 shares during the last quarter. GW&K Investment Management LLC raised its stake in Align Technology by 16.1% in the second quarter. GW&K Investment Management LLC now owns 205,003 shares of the company’s stock valued at $16,513,000 after buying an additional 28,418 shares during the last quarter. RS Investment Management Co. LLC raised its stake in Align Technology by 5.7% in the second quarter. RS Investment Management Co. LLC now owns 601,734 shares of the company’s stock valued at $48,470,000 after buying an additional 32,545 shares during the last quarter. Retirement Systems of Alabama raised its stake in Align Technology by 2.7% in the second quarter. Retirement Systems of Alabama now owns 318,825 shares of the company’s stock valued at $25,681,000 after buying an additional 8,391 shares during the last quarter. Finally, Springbok Capital Management LLC purchased a new stake in Align Technology during the first quarter valued at $322,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Align Technology Inc. (NASDAQ:ALGN) traded up 1.41% during mid-day trading on Monday, hitting $96.18. 878,152 shares of the company were exchanged. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 41.10 and a beta of 1.33. The firm has a 50 day moving average of $89.44 and a 200 day moving average of $86.45. Align Technology Inc. has a 12-month low of $57.31 and a 12-month high of $98.62.
Align Technology (NASDAQ:ALGN) last released its earnings results on Monday, November 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.11. Align Technology had a return on equity of 21.09% and a net margin of 18.78%. The firm had revenue of $278.60 million for the quarter, compared to analysts’ expectations of $271.61 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 34.3% on a year-over-year basis. Equities research analysts forecast that Align Technology Inc. will post $2.41 earnings per share for the current year.
A number of equities research analysts have commented on ALGN shares. Robert W. Baird lowered shares of Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price objective on the stock. in a report on Monday, October 3rd. Morgan Stanley set a $114.00 price objective on shares of Align Technology and gave the stock a “buy” rating in a report on Wednesday, October 19th. Zacks Investment Research lowered shares of Align Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. Stifel Nicolaus increased their price objective on shares of Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Jefferies Group reissued a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Align Technology in a report on Tuesday, November 8th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.82.
In other news, VP Jennifer Olson sold 799 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $93.30, for a total transaction of $74,546.70. Following the sale, the vice president now directly owns 4,483 shares in the company, valued at $418,263.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas M. Prescott sold 33,125 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $90.60, for a total value of $3,001,125.00. Following the sale, the director now owns 124,378 shares in the company, valued at $11,268,646.80. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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