Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Align Technology, Inc. (NASDAQ:ALGN) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,300 shares of the medical equipment provider’s stock after selling 6,400 shares during the period. Swiss National Bank’s holdings in Align Technology were worth $62,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. MONECO Advisors LLC lifted its holdings in Align Technology by 4.2% in the 4th quarter. MONECO Advisors LLC now owns 2,219 shares of the medical equipment provider’s stock valued at $608,000 after purchasing an additional 89 shares in the last quarter. Certuity LLC raised its position in shares of Align Technology by 19.2% in the fourth quarter. Certuity LLC now owns 1,547 shares of the medical equipment provider’s stock valued at $424,000 after buying an additional 249 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Align Technology in the fourth quarter valued at about $1,882,000. Unique Wealth Strategies LLC purchased a new position in shares of Align Technology in the fourth quarter worth about $808,000. Finally, Russell Investments Group Ltd. boosted its position in Align Technology by 32.9% during the fourth quarter. Russell Investments Group Ltd. now owns 48,360 shares of the medical equipment provider’s stock worth $13,267,000 after acquiring an additional 11,983 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALGN has been the subject of a number of recent research reports. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Robert W. Baird increased their price target on Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. The Goldman Sachs Group upped their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

Align Technology Trading Up 0.5 %

Shares of NASDAQ:ALGN opened at $287.87 on Monday. The business has a 50-day moving average price of $311.10 and a 200 day moving average price of $271.46. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The company has a market capitalization of $21.66 billion, a price-to-earnings ratio of 47.43, a PEG ratio of 5.29 and a beta of 1.66.

Insiders Place Their Bets

In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following 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 through this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’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 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. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the last 90 days. 0.62% of the stock is owned by company insiders.

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.