1900 Wealth Management LLC Increases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

1900 Wealth Management LLC increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 55.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,118 shares of the medical equipment provider’s stock after acquiring an additional 1,833 shares during the quarter. 1900 Wealth Management LLC’s holdings in Align Technology were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ALGN. HB Wealth Management LLC raised its stake in Align Technology by 17.3% during the 3rd quarter. HB Wealth Management LLC now owns 1,053 shares of the medical equipment provider’s stock worth $322,000 after acquiring an additional 155 shares during the period. Capital Investment Advisors LLC raised its stake in Align Technology by 22.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock worth $360,000 after acquiring an additional 215 shares during the period. Flagship Harbor Advisors LLC raised its stake in Align Technology by 2.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock worth $517,000 after acquiring an additional 44 shares during the period. DAVENPORT & Co LLC raised its stake in Align Technology by 3.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock worth $663,000 after acquiring an additional 66 shares during the period. Finally, ARK Investment Management LLC raised its position in shares of Align Technology by 7.5% during the third quarter. ARK Investment Management LLC now owns 8,506 shares of the medical equipment provider’s stock valued at $2,597,000 after buying an additional 591 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ALGN. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, UBS Group upped their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $344.45.

Align Technology Trading Up 2.5 %

ALGN traded up $7.55 during midday trading on Tuesday, hitting $308.37. The company’s stock had a trading volume of 143,640 shares, compared to its average volume of 734,247. The firm has a market cap of $23.20 billion, a P/E ratio of 51.69, a PEG ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The firm has a 50-day moving average price of $312.75 and a two-hundred day moving average price of $270.03.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, equities analysts expect that Align Technology, Inc. will post 7.69 EPS for the current year.

Insider Transactions at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.72% of the company’s stock.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.