California State Teachers Retirement System Has $25.90 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

California State Teachers Retirement System trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 125,031 shares of the medical equipment provider’s stock after selling 1,529 shares during the period. California State Teachers Retirement System’s holdings in Align Technology were worth $25,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its position in shares of Align Technology by 188.0% in the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 94 shares in the last quarter. MCF Advisors LLC raised its position in Align Technology by 2,090.0% during the third quarter. MCF Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 209 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Align Technology by 27.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 48 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Align Technology during the third quarter valued at approximately $47,000. Finally, CoreCap Advisors LLC acquired a new position in Align Technology during the second quarter valued at approximately $69,000. 84.90% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

ALGN stock opened at $320.87 on Friday. The company has a market capitalization of $24.58 billion, a P/E ratio of 69.60, a PEG ratio of 3.06 and a beta of 1.60. The company has a fifty day moving average price of $296.65 and a 200-day moving average price of $240.49. Align Technology, Inc. has a 52-week low of $172.05 and a 52-week high of $461.79.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI boosted their price objective on shares of Align Technology from $230.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Piper Sandler boosted their price objective on shares of Align Technology from $255.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Align Technology from $265.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Robert W. Baird boosted their price objective on shares of Align Technology from $260.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Finally, StockNews.com started coverage on shares of Align Technology in a research report on Thursday. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average price target of $358.78.

Insider Activity at Align Technology

In related news, CEO Joseph M. Hogan bought 2,928 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was acquired at an average cost of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at $64,344,405.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Joseph M. Hogan bought 2,928 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was acquired at an average price of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now owns 188,417 shares of the company’s stock, valued at approximately $64,344,405.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John Morici purchased 587 shares of the stock in a transaction on Wednesday, February 8th. The shares were purchased at an average price of $341.84 per share, with a total value of $200,660.08. Following the acquisition, the chief financial officer now owns 8,204 shares in the company, valued at approximately $2,804,455.36. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Align Technology Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.