Align Technology, Inc. $ALGN Shares Purchased by CYBER HORNET ETFs LLC

Key Points

• CYBER HORNET ETFs LLC increased its Align Technology stake by 4,725.8% in the second quarter, purchasing 8,601 additional shares. Its position totaled 8,783 shares valued at approximately $1.48 million.
• Institutional investors own 88.43% of Align Technology, with several other funds also increasing their holdings during the first and second quarters.
• Align exceeded quarterly earnings and revenue expectations, reporting $2.64 EPS and $1.06 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $206.36, versus a recent share price of $158.63.

CYBER HORNET ETFs LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 4,725.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,783 shares of the medical equipment provider's stock after buying an additional 8,601 shares during the period. Align Technology comprises 0.5% of CYBER HORNET ETFs LLC's portfolio, making the stock its 27th largest position. CYBER HORNET ETFs LLC's holdings in Align Technology were worth $1,481,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock worth $1,624,000 after purchasing an additional 469 shares during the period. Focus Partners Wealth raised its holdings in shares of Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock worth $486,000 after purchasing an additional 151 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Align Technology during the second quarter worth $204,000. EverSource Wealth Advisors LLC lifted its position in shares of Align Technology by 55.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider's stock worth $101,000 after buying an additional 190 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Align Technology by 201.7% in the 2nd quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider's stock valued at $16,712,000 after buying an additional 59,010 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Price Performance

Shares of ALGN stock opened at $158.63 on Monday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $200.43. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.65. The business has a 50 day simple moving average of $171.51 and a 200 day simple moving average of $173.91.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, equities analysts anticipate that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ALGN. Weiss Ratings upgraded shares of Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Wall Street Zen lowered Align Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Zacks Research cut Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 16th. UBS Group reissued a "neutral" rating and issued a $189.00 price target on shares of Align Technology in a report on Thursday, July 23rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.36.

About Align Technology

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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