Trexquant Investment LP Acquires 80,553 Shares of Align Technology, Inc. $ALGN

Key Points

• Trexquant Investment LP increased its stake in Align Technology by 232.7% during Q1, acquiring 80,553 additional shares, valuing their total holding at approximately $18.3 million.
• Align Technology's CEO, Joseph M. Hogan, purchased 7,576 shares of the company recently, increasing his ownership of the stock to 184,945 shares worth over $24 million.
• Despite a miss in quarterly earnings, Align's stock has been supported by share repurchase programs and positive analyst ratings, with an average price target of $215.

Trexquant Investment LP lifted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 232.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,171 shares of the medical equipment provider's stock after purchasing an additional 80,553 shares during the quarter. Trexquant Investment LP owned about 0.16% of Align Technology worth $18,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Align Technology by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider's stock worth $1,341,031,000 after acquiring an additional 185,187 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Align Technology by 58.7% during the first quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock valued at $307,800,000 after acquiring an additional 716,954 shares in the last quarter. Invesco Ltd. raised its position in shares of Align Technology by 12.7% in the 1st quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider's stock worth $193,764,000 after purchasing an additional 137,553 shares during the last quarter. Northern Trust Corp boosted its stake in Align Technology by 13.3% in the 4th quarter. Northern Trust Corp now owns 736,936 shares of the medical equipment provider's stock worth $153,659,000 after purchasing an additional 86,493 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Align Technology by 35.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 731,846 shares of the medical equipment provider's stock worth $152,597,000 after purchasing an additional 190,711 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley restated an "equal weight" rating and set a $154.00 price objective (down from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Mizuho set a $210.00 price target on shares of Align Technology in a report on Thursday, July 31st. Piper Sandler reduced their price target on shares of Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Evercore ISI upped their price objective on Align Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company cut their target price on Align Technology from $246.00 to $199.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the transaction, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Align Technology Price Performance

Align Technology stock traded up $0.83 during midday trading on Monday, reaching $141.96. 982,408 shares of the company traded hands, compared to its average volume of 1,557,928. Align Technology, Inc. has a 12 month low of $127.70 and a 12 month high of $262.87. The business has a 50 day moving average of $171.61 and a two-hundred day moving average of $174.13. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical equipment provider reported $2.49 EPS for the quarter, missing analysts' consensus estimates of $2.57 by ($0.08). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. Align Technology had a return on equity of 13.36% and a net margin of 11.04%.The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $2.41 EPS. Align Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology announced that its board has initiated a share buyback plan on Tuesday, May 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical equipment provider to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Align Technology 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.