Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,110 shares of the medical equipment provider’s stock after purchasing an additional 167 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Align Technology were worth $578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALGN. DAVENPORT & Co LLC increased its position in Align Technology by 3.1% during the third quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock worth $663,000 after purchasing an additional 66 shares during the last quarter. Czech National Bank grew its stake in shares of Align Technology by 47.7% in the third quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock valued at $3,798,000 after buying an additional 4,016 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Align Technology by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider’s stock valued at $9,257,000 after purchasing an additional 387 shares during the period. Handelsbanken Fonder AB boosted its position in Align Technology by 3.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider’s stock valued at $9,876,000 after buying an additional 936 shares during the last quarter. Finally, Slow Capital Inc. increased its holdings in Align Technology by 0.8% during the 3rd quarter. Slow Capital Inc. now owns 9,281 shares of the medical equipment provider’s stock worth $2,834,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the firm’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 transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Emory Wright sold 2,524 shares of the firm’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 completion of the transaction, 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 SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now directly 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 three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus increased their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Piper Sandler restated an “overweight” rating and set a $375.00 price target (up previously from $355.00) on shares of Align Technology in a report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $341.36.

Align Technology Stock Performance

ALGN opened at $309.02 on Friday. The company has a market capitalization of $23.25 billion, a P/E ratio of 50.91, a P/E/G ratio of 5.56 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 stock has a fifty day moving average of $313.38 and a 200-day moving average of $270.98.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, 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.