Jump Financial LLC Purchases New Shares in Align Technology, Inc. (NASDAQ:ALGN)

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

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings 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 acquiring an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Align Technology by 119.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after buying an additional 92,407 shares during the last quarter. Swedbank AB lifted its position in Align Technology by 25.0% in 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. raised its stake in shares of Align Technology by 34.5% in the fourth 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 raised its stake in shares of Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider's stock worth $1,626,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded up $4.23 during mid-day trading on Friday, reaching $171.41. 816,188 shares of the company's stock were exchanged, compared to its average volume of 874,117. Align Technology, Inc. has a twelve month low of $141.74 and a twelve month high of $327.49. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.24 and a beta of 1.73. The business's fifty day moving average price is $173.49 and its 200-day moving average price is $205.29.

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

Analyst Ratings Changes

ALGN has been the topic of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company began coverage on Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Mizuho lowered their price target on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.90.

About Align Technology

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.