Swiss National Bank Sells 6,400 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Swiss National Bank trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,300 shares of the medical equipment provider’s stock after selling 6,400 shares during the quarter. Swiss National Bank owned approximately 0.30% of Align Technology worth $62,280,000 as of its most recent SEC filing.

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

Align Technology Price Performance

Align Technology stock opened at $287.87 on Monday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The company’s 50-day moving average is $311.10 and its 200 day moving average is $271.46. The firm has a market capitalization of $21.66 billion, a P/E ratio of 47.43, a price-to-earnings-growth ratio of 5.29 and a beta of 1.66.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. 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, April 25th. Robert W. Baird boosted their price target on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Morgan Stanley increased their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, UBS Group upped their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $353.00.

Insider Transactions at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following 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 at this link. In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’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 of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock worth $8,403,924. 0.62% of the stock is currently owned by company insiders.

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.