Jump Financial LLC Buys 20,991 Shares of Align Technology, Inc. $ALGN

Key Points

• Jump Financial LLC increased its stake in Align Technology, growing its position by 40.2% to 73,146 shares worth approximately $11.62 million.
• Align Technology's recent quarterly earnings missed estimates, reporting $2.49 EPS against the expected $2.57, with a revenue drop of 1.6% year-over-year.
• Wall Street analysts have set a mixed outlook on Align Technology, with an average rating of "Moderate Buy" and an average price target of $215.

Jump Financial LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 40.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 73,146 shares of the medical equipment provider's stock after acquiring an additional 20,991 shares during the quarter. Jump Financial LLC owned about 0.10% of Align Technology worth $11,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALGN. Ninety One UK Ltd lifted its position in shares of Align Technology by 58.7% during the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider's stock worth $307,800,000 after buying an additional 716,954 shares during the last quarter. Federated Hermes Inc. grew its stake in Align Technology by 510.3% in the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider's stock valued at $112,396,000 after acquiring an additional 591,588 shares during the period. Mackenzie Financial Corp grew its stake in Align Technology by 4,217.3% in the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider's stock valued at $67,707,000 after acquiring an additional 416,333 shares during the period. Bank of America Corp DE grew its stake in Align Technology by 77.3% in the fourth quarter. Bank of America Corp DE now owns 460,028 shares of the medical equipment provider's stock valued at $95,920,000 after acquiring an additional 200,492 shares during the period. Finally, Citigroup Inc. grew its stake in Align Technology by 333.4% in the first quarter. Citigroup Inc. now owns 256,492 shares of the medical equipment provider's stock valued at $40,746,000 after acquiring an additional 197,317 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Down 0.6%

Shares of NASDAQ ALGN traded down $0.85 during mid-day trading on Thursday, hitting $141.13. The company had a trading volume of 929,002 shares, compared to its average volume of 1,224,282. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.60 and a beta of 1.61. Align Technology, Inc. has a 1 year low of $127.70 and a 1 year high of $262.87. The stock's 50-day moving average price is $173.18 and its 200-day moving average price is $175.52.

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

Align Technology announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical equipment provider to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Align Technology news, CEO Joseph M. Hogan bought 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the transaction, the chief executive officer directly owned 184,945 shares in the company, valued at $24,318,418.05. This represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on ALGN shares. Piper Sandler reduced their price objective on Align Technology from $250.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Mizuho set a $210.00 target price on Align Technology in a report on Thursday, July 31st. Morgan Stanley reiterated an "equal weight" rating and set a $154.00 price target (down from $249.00) on shares of Align Technology in a report on Thursday, July 31st. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.00.

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.