Align Technology, Inc. (ALGN) is Cubist Systematic Strategies LLC’s 9th Largest Position

Cubist Systematic Strategies LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 799.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,452 shares of the medical equipment provider’s stock after purchasing an additional 50,178 shares during the period. Align Technology makes up 0.6% of Cubist Systematic Strategies LLC’s holdings, making the stock its 9th largest position. Cubist Systematic Strategies LLC owned approximately 0.07% of Align Technology worth $10,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Vanguard Group Inc. boosted its stake in Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after purchasing an additional 1,034,254 shares during the period. State Street Corp boosted its stake in shares of Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Align Technology by 794.9% during the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after buying an additional 608,535 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Align Technology by 200.5% during the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after buying an additional 396,426 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Align Technology by 568.4% during the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock worth $66,271,000 after buying an additional 375,409 shares during the last quarter. 83.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Align Technology, Inc. (ALGN) opened at $238.43 on Monday. The stock has a market cap of $19,120.00, a PE ratio of 70.54, a PEG ratio of 2.28 and a beta of 1.43. Align Technology, Inc. has a fifty-two week low of $88.56 and a fifty-two week high of $266.41.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. equities analysts predict that Align Technology, Inc. will post 3.62 EPS for the current year.

ALGN has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Piper Jaffray Companies restated a “buy” rating and set a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. Robert W. Baird restated a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Goldman Sachs Group increased their price objective on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Finally, Morgan Stanley restated an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Align Technology presently has a consensus rating of “Buy” and an average target price of $236.75.

In other news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at $5,376,508.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,849 shares of company stock worth $13,494,348. 1.60% of the stock is owned by insiders.

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

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