Align Technology, Inc. (ALGN) Holdings Reduced by Gabelli Funds LLC
Gabelli Funds LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 13.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,000 shares of the medical equipment provider’s stock after selling 1,200 shares during the period. Gabelli Funds LLC’s holdings in Align Technology were worth $1,778,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ALGN. Atlantic Trust Group LLC grew its stake in Align Technology by 4,682.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares during the period. Legal & General Group Plc grew its stake in Align Technology by 221.0% in the 3rd quarter. Legal & General Group Plc now owns 383,295 shares of the medical equipment provider’s stock worth $71,396,000 after acquiring an additional 263,875 shares during the period. Janus Henderson Group PLC grew its stake in Align Technology by 26.6% in the 3rd quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock worth $140,077,000 after acquiring an additional 157,890 shares during the period. Axiom International Investors LLC DE purchased a new stake in Align Technology in the 3rd quarter worth approximately $27,525,000. Finally, Columbus Circle Investors purchased a new stake in Align Technology in the 3rd quarter worth approximately $23,257,000. 81.99% of the stock is owned by hedge funds and other institutional investors.
Align Technology, Inc. (ALGN) opened at $233.73 on Wednesday. The firm has a market cap of $18,691.83, a price-to-earnings ratio of 82.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.48. Align Technology, Inc. has a 1-year low of $97.31 and a 1-year high of $287.32.
ALGN has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research note on Friday, October 27th. Stifel Nicolaus lifted their price target on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a report on Monday, October 30th. Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 price target on the stock in a report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $300.00 price target on shares of Align Technology in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Align Technology currently has a consensus rating of “Buy” and an average price target of $258.54.
In related news, VP Emory Wright sold 5,025 shares of Align Technology stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the transaction, the vice president now owns 80,762 shares in the company, valued at approximately $21,295,324.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Morici sold 1,500 shares of Align Technology stock in a transaction on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the transaction, the chief financial officer now owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders have sold a total of 82,029 shares of company stock worth $21,369,243 in the last 90 days. Company insiders own 1.60% of the company’s stock.
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Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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