Jump Financial LLC Buys New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Jump Financial LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 52,155 shares of the medical equipment provider's stock, valued at approximately $10,875,000. Jump Financial LLC owned approximately 0.07% of Align Technology at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ALGN. Nordea Investment Management AB grew its stake in Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock valued at $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after acquiring an additional 92,407 shares during the period. Swedbank AB lifted its holdings in shares of Align Technology by 25.0% during the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock worth $101,392,000 after purchasing an additional 97,152 shares during the period. Principal Securities Inc. boosted its holdings in shares of Align Technology by 34.5% in the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after acquiring an additional 483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider's stock worth $1,626,000 after purchasing an additional 91 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 2.5 %

ALGN traded up $4.23 on Friday, hitting $171.41. The company had a trading volume of 816,188 shares, compared to its average volume of 877,373. The firm has a market cap of $12.55 billion, a P/E ratio of 30.55, a PEG ratio of 2.24 and a beta of 1.73. The company's fifty day moving average price is $172.70 and its 200 day moving average price is $204.55. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $327.49.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALGN. Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Wells Fargo & Company assumed coverage on shares of Align Technology in a report on Friday, February 14th. They issued an "overweight" rating and a $255.00 price target for the company. Morgan Stanley reduced their price objective on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Piper Sandler reiterated an "overweight" rating and set a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Finally, Evercore ISI increased their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.90.

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.