Align Technology Inc. [ALGN] Insider Activity: An Update for Investors


Align Technology Inc.’s recent filing unveils that its Director Dallas Kevin J acquired Company’s shares for reported $2.0 million on May 30. In the deal valued at $285.26 per share,7,000 shares were bought. As a result of this transaction, Dallas Kevin J now holds 12,246 shares worth roughly $ 4.59 million.

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Then, HOGAN JOSEPH M bought 2,928 shares, generating $999,912 in total proceeds. Upon buying the shares at $341.50, the President and CEO now owns 188,417 shares.

Before that, Morici John bought 587 shares. Align Technology Inc. shares valued at $200,660 were divested by the EVP & Chief Financial Officer at a price of $341.84 per share. As a result of the transaction, Morici John now holds 8,204 shares, worth roughly $3.08 million.

Goldman upgraded its Align Technology Inc. [ALGN] rating to a Neutral from a a Sell in a research note published on Friday, February 02, 2023; the price target was increased to $307 from $165. PT values the company’s stock at a premium of -22.12 to its Friday closing price.

Price Performance Review of ALGN

On Friday, Align Technology Inc. [NASDAQ:ALGN] saw its stock jump 1.29% to $374.90. On the same session, the stock had its day’s lowest price of $369.01, but rose to a high of $375.68. Over the last five days, the stock has gained 5.21%. Align Technology Inc. shares have risen nearly 77.76% since the year began. Nevertheless, the stocks have risen 53.84% over the past one year. While a 52-week high of $413.20 was reached on 07/27/23, a 52-week low of $172.05 was recorded on 01/03/23. SMA at 50 days reached $353.83, while 200 days put it at $300.05. A total of 0.37 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For ALGN Stock

The 24-hour chart illustrates a support level at 370.71, which if violated will result in even more drops to 366.53. On the upside, there is a resistance level at 377.38. A further resistance level may holdings at 379.87. The Relative Strength Index (RSI) on the 14-day chart is 61.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 13.25, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.32%. Stochastics %K at 90.36% indicates the stock is a selling.

How much short interest is there in Align Technology Inc.?

A steep rise in short interest was recorded in Align Technology Inc. stocks on Aug 14, 2023, dropping by -0.28 million shares to a total of 2.27 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.55 million shares. There was a decline of -12.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.35% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.53.

Align Technology Inc. [ALGN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 7,956,585 shares, or roughly 10.40% of the outstanding ALGN shares. In other words, the investor’s shares have fallen by -123,813 from its previous 13-F filing of 8080398.0. Additionally, BlackRock Fund Advisors increased 3.51% of its stake after which the total value it holdings stand at $1,422,266,482, while Edgewood Management LLC reduced -3.12% of its stake to hold $1.24 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 59,204 shares of Align Technology Inc., while JPMorgan Investment Management, I bought 359,017 shares. At present, Wellington Management Co. LLP is holding 2,519,594 shares valued at $952.13 million. Capital Research & Management Co owned 2,113,247 shares of the company at the time of its most recent 13F filing, worth $798.57 million.

According to FactSet, Align Technology Inc.’s share price will average $397.92 in the next year, based on opinions of analysts polled by the firm. This is up nearly 8.74 percent from its previous closing price of $370.14. Analysts expect Align Technology Inc. stock to reach the higher price of $450.00, while the lowest price estimate is $270.00. However, 15 analysts have rated ALGN stock as an Overweight in their predictions for 2023.


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