Swiss National Bank Has $62.28 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Swiss National Bank decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,300 shares of the medical equipment provider's stock after selling 6,400 shares during the period. Swiss National Bank owned approximately 0.30% of Align Technology worth $62,280,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Deepwater Asset Management LLC lifted its position in Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider's stock valued at $13,421,000 after purchasing an additional 15,608 shares during the period. London & Capital Asset Management Ltd grew its stake in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider's stock worth $15,899,000 after acquiring an additional 3,843 shares during the period. Morgan Stanley grew its stake in Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider's stock worth $310,866,000 after acquiring an additional 90,581 shares during the period. Illinois Municipal Retirement Fund grew its stake in Align Technology by 20.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider's stock worth $9,136,000 after acquiring an additional 5,759 shares during the period. Finally, Factory Mutual Insurance Co. grew its stake in Align Technology by 26.3% in the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider's stock worth $39,262,000 after acquiring an additional 29,800 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Insider Buying and Selling at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares of the company's stock, valued at $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company's stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 in the last three months. 0.62% of the stock is currently owned by company insiders.

Align Technology Stock Down 0.2 %

Shares of ALGN stock traded down $0.50 during trading hours on Monday, reaching $287.37. 362,387 shares of the stock traded hands, compared to its average volume of 748,059. The business has a fifty day moving average price of $311.10 and a 200 day moving average price of $271.46. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The firm has a market capitalization of $21.62 billion, a PE ratio of 47.43, a PEG ratio of 5.29 and a beta of 1.66.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Robert W. Baird lifted their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an "outperform" rating in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, April 25th. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, April 15th. Finally, SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Align Technology currently has an average rating of "Moderate Buy" and an average target price of $353.00.

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.