Jackson Square Partners LLC Sells 7,011 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Jackson Square Partners LLC reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,644 shares of the medical equipment provider’s stock after selling 7,011 shares during the period. Align Technology accounts for about 2.7% of Jackson Square Partners LLC’s investment portfolio, making the stock its 12th largest holding. Jackson Square Partners LLC owned about 0.16% of Align Technology worth $24,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB raised its position in shares of Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after purchasing an additional 90,000 shares during the last quarter. 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 worth $56,870,000 after buying an additional 9,139 shares during 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 in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after buying an additional 2,717 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Align Technology by 25.7% during the third quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock valued at $10,383,000 after acquiring an additional 8,338 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ALGN shares. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. Finally, 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 report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $266.73.

Align Technology Stock Performance

NASDAQ:ALGN opened at $170.37 on Tuesday. The stock has a 50-day simple moving average of $197.91 and a two-hundred day simple moving average of $216.13. Align Technology, Inc. has a 52-week low of $158.13 and a 52-week high of $331.64. The firm has a market capitalization of $12.54 billion, a PE ratio of 30.37, a P/E/G ratio of 2.24 and a beta of 1.69.

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

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.