It will actually depend on what NO DATA values mean; are they representing missing values during acquisition? Or, as the production of these images requires many processing steps, erroneous values may occur during some of them?
Keep also in mind that the 3 channels must be registered after acquisition, hence you can imagine them are initially almost independent devices, where a lot of complexity is involved (...) in a way. The registration operation is known as "geometric calibration". It is normally follow by a validation step.
Feel free to read this document from where the two previous images come from:
p. 22 "Level-‐1 Geometric Quality Requirements"
pp 47-58 "Level--1 Geometric Calibration"
pp 79-88 "Level--1 Geometric Validation"
On the 5 products of the Sentinel-2 mission, namely
only the two last are released to the public.
You can find some information regarding NO DATA value in the latest ESA Mission Performance Center (MPC) Data Quality Report, for example for Sentinel-2 L1C product:
You may also be interested if this anomaly search engine:
Same report, but for the L2A product:
https://sentinel.esa.int/documents/247904/685211/Sentinel-2-L2A-Data-Quality-Report (there is also some mentions on NO DATA values but not as details as for the L1C product, but it's worth a read).
Other related information:
General information, by topic:
Product L1C (description):
Product L2A (description):