Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by 1900 Wealth Management LLC

1900 Wealth Management LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 55.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,118 shares of the medical equipment provider’s stock after buying an additional 1,833 shares during the period. 1900 Wealth Management LLC’s holdings in Align Technology were worth $1,402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGN. Deepwater Asset Management LLC raised its stake in shares of Align Technology by 46.8% during the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after acquiring an additional 15,608 shares during the last quarter. London & Capital Asset Management Ltd grew its position in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after buying an additional 3,843 shares during the last quarter. Morgan Stanley increased its stake in shares of Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares during the last quarter. Country Trust Bank lifted its stake in Align Technology by 27.7% during the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after purchasing an additional 17,515 shares during the last quarter. Finally, Factory Mutual Insurance Co. raised its stake in shares of Align Technology by 26.3% in the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock valued at $39,262,000 after acquiring an additional 29,800 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler increased their price target on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink assumed coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective for the company. UBS Group increased their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group lifted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $344.45.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology 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 sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now 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 through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, 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. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded up $7.55 during midday trading on Tuesday, reaching $308.37. 143,640 shares of the company’s stock were exchanged, compared to its average volume of 734,247. The firm’s 50 day simple moving average is $312.75 and its two-hundred day simple moving average is $270.03. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Align Technology Company 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.