Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Riverbridge Partners LLC

Riverbridge Partners LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,221 shares of the medical equipment provider's stock after purchasing an additional 21,251 shares during the quarter. Riverbridge Partners LLC owned 0.34% of Align Technology worth $70,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its position in shares of Align Technology by 0.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider's stock worth $886,000 after purchasing an additional 31 shares during the last quarter. Dfpg Investments LLC increased its stake in Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider's stock worth $340,000 after purchasing an additional 42 shares during the period. EFG Asset Management Americas Corp. increased its stake in Align Technology by 3.8% during the second quarter. EFG Asset Management Americas Corp. now owns 1,174 shares of the medical equipment provider's stock worth $415,000 after purchasing an additional 43 shares during the period. Flagship Harbor Advisors LLC increased its stake in Align Technology by 2.7% during the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider's stock worth $517,000 after purchasing an additional 44 shares during the period. Finally, Richard W. Paul & Associates LLC increased its stake in Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider's stock worth $457,000 after purchasing an additional 45 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares of the company's stock, valued at $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Lacob sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $725,523.80. Following the sale, the executive vice president now 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 ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is currently owned by company insiders.

Align Technology Stock Up 1.6 %

ALGN traded up $4.84 on Thursday, reaching $314.95. The company's stock had a trading volume of 649,343 shares, compared to its average volume of 774,896. The stock has a 50 day moving average of $303.89 and a two-hundred day moving average of $269.29. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of 54.12, a P/E/G ratio of 5.62 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. As a group, analysts anticipate that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALGN shares. Piper Sandler boosted their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, March 14th. Stifel Nicolaus boosted their price target on shares of Align Technology from $340.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. UBS Group boosted their price target on shares of Align Technology from $200.00 to $260.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 30th. The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a research note on Friday, February 2nd. Finally, SVB Leerink assumed coverage on shares of Align Technology in a research note on Monday, February 26th. They set a "market perform" rating and a $310.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $334.45.

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.

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