Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Slow Capital Inc.

Slow Capital Inc. grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,543 shares of the medical equipment provider’s stock after buying an additional 262 shares during the period. Slow Capital Inc.’s holdings in Align Technology were worth $2,615,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. KB Financial Partners LLC purchased a new position in Align Technology during the 1st quarter worth $26,000. Cornerstone Planning Group LLC purchased a new position in Align Technology during the 2nd quarter worth $29,000. Huntington National Bank raised its position in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the last quarter. First Manhattan CO. LLC. raised its position in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new position in Align Technology during the 3rd quarter worth $61,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN traded down $4.85 during trading hours on Wednesday, reaching $300.25. The company’s stock had a trading volume of 316,104 shares, compared to its average volume of 749,922. The stock has a market cap of $22.59 billion, a PE ratio of 51.50, a PEG ratio of 5.49 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. The company’s 50-day moving average is $312.30 and its two-hundred day moving average is $269.75.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Equities analysts expect that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last ninety days. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group increased their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler increased their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.91.

About Align Technology

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.