United Services Automobile Association grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,529 shares of the medical equipment provider’s stock after purchasing an additional 653 shares during the quarter. United Services Automobile Association owned approximately 0.07% of Align Technology worth $23,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Stevens Capital Management LP purchased a new position in shares of Align Technology in the third quarter worth about $5,167,000. Franklin Resources Inc. lifted its stake in shares of Align Technology by 36.0% in the third quarter. Franklin Resources Inc. now owns 72,528 shares of the medical equipment provider’s stock worth $28,374,000 after buying an additional 19,215 shares in the last quarter. Crosspoint Capital Strategies LLC purchased a new position in shares of Align Technology in the third quarter worth about $1,606,000. Glassman Wealth Services lifted its stake in shares of Align Technology by 1,459.1% in the third quarter. Glassman Wealth Services now owns 1,793 shares of the medical equipment provider’s stock worth $701,000 after buying an additional 1,678 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its stake in shares of Align Technology by 76.7% in the third quarter. Compagnie Lombard Odier SCmA now owns 530 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

In other Align Technology news, SVP Sreelakshmi Kolli sold 5,000 shares of Align Technology stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the completion of the sale, the senior vice president now directly owns 27,180 shares in the company, valued at $6,065,217. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $231.82, for a total transaction of $2,318,200.00. The disclosure for this sale can be found here. Insiders have sold 23,764 shares of company stock worth $5,427,059 over the last ninety days. 1.40% of the stock is owned by insiders.

ALGN has been the topic of several research reports. Morgan Stanley raised their price target on shares of Align Technology from $315.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 9th. Zacks Investment Research downgraded shares of Align Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Goldman Sachs Group initiated coverage on shares of Align Technology in a research note on Saturday, October 20th. They issued a “buy” rating and a $420.00 price target on the stock. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Finally, Credit Suisse Group reduced their target price on shares of Align Technology from $391.00 to $375.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $352.20.

Shares of ALGN stock opened at $220.95 on Wednesday. Align Technology, Inc. has a 12 month low of $188.57 and a 12 month high of $398.88. The stock has a market cap of $18.39 billion, a price-to-earnings ratio of 56.80, a PEG ratio of 2.05 and a beta of 2.05.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The company had revenue of $505.30 million for the quarter, compared to the consensus estimate of $503.14 million. During the same period in the previous year, the firm earned $1.01 earnings per share. Align Technology’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts predict that Align Technology, Inc. will post 4.87 EPS for the current fiscal year.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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