21,690 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGNFree Report) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 21,690 shares of the medical equipment provider’s stock, valued at approximately $6,622,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Align Technology in the fourth quarter worth approximately $150,692,000. BlackRock Inc. lifted its position in Align Technology by 4.1% in the second quarter. BlackRock Inc. now owns 5,593,074 shares of the medical equipment provider’s stock worth $1,977,935,000 after purchasing an additional 222,749 shares during the period. Portside Wealth Group LLC acquired a new stake in Align Technology in the second quarter worth approximately $77,173,000. Jupiter Asset Management Ltd. acquired a new stake in Align Technology in the second quarter worth approximately $65,182,000. Finally, Penn Capital Management Company LLC acquired a new stake in Align Technology in the first quarter worth approximately $52,560,000. 87.07% of the stock is owned by institutional investors.

Align Technology Trading Up 4.7 %

NASDAQ ALGN opened at $288.44 on Wednesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The company has a market capitalization of $22.09 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 2.88 and a beta of 1.64. The firm’s fifty day simple moving average is $257.92 and its 200-day simple moving average is $281.44.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALGN. Stifel Nicolaus cut their price objective on Align Technology from $430.00 to $390.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Morgan Stanley cut their price objective on Align Technology from $415.00 to $378.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. UBS Group increased their price objective on Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group increased their price objective on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Finally, Piper Sandler boosted their target price on shares of Align Technology from $290.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $338.90.

Check Out Our Latest Stock Analysis on ALGN

Insider Transactions at Align Technology

In related news, CEO Joseph M. Hogan purchased 5,194 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of $192.50 per share, with a total value of $999,845.00. Following the completion of the purchase, the chief executive officer now owns 208,664 shares of the company’s stock, valued at approximately $40,167,820. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Align Technology Company Profile

(Free Report)

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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).

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

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