Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Align Technology, Inc. shares valued at $1,529,645 were purchased by LARKIN C RAYMOND JR on Aug 15 ’24. At $235.33 per share, LARKIN C RAYMOND JR acquired 6,500 shares. The insider’s holdings grew to 28,247 shares worth approximately $5.96 million following the completion of this transaction.
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Also, LACOB JOSEPH sold 15,000 shares, netting a total of over 4,548,308 in proceeds. Following the sale of shares at $303.22 each, the insider now holds 131,994 shares.
Before that, LACOB JOSEPH had sold 10,000 shares from its account. In a trade valued at $3,130,075, the Director traded Align Technology, Inc. shares for $313.01 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $31.0 million.
As published in their initiating research note from Needham on October 10, 2024, Align Technology, Inc. [ALGN] has been a Hold. Analysts at Leerink Partners started covering the stock with ‘”a Market perform”‘ outlook in a report released in late February. As of December 11, 2023, Goldman has decreased its “Neutral” rating to a “Sell” for ALGN. Earlier on October 27, 2023, UBS downgraded its rating. Their new recommendation was “a Neutral” for ALGN stock which previously was a “a Buy”.
Analyzing ALGN Stock Performance
During the last five days, there has been a surge of approximately 1.54%. Over the course of the year, Align Technology, Inc. shares have dropped approximately -23.04%. Shares of the company reached a 52-week high of $335.40 on 03/21/24 and a 52-week low of $196.09 on 08/05/24. A 50-day SMA is recorded $231.99, while a 200-day SMA reached $263.80. Nevertheless, trading volume fell to 0.83 million shares from 1.07 million shares the previous day.
Support And Resistance Levels for Align Technology, Inc. (ALGN)
According to the 24-hour chart, there is a support level at 209.14, which, if violated, would cause prices to drop to 207.43. In the upper region, resistance lies at 213.71. The next price resistance is at 216.57. RSI (Relative Strength Index) is 36.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.88, which suggests the price will decrease in the coming days. Percent R is at 76.44%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
