The Gilder Gagnon Howe & Co. LLC Buys 894,372 Shares of Align Technology Inc. (ALGN)

The Gilder Gagnon Howe & Co. LLC Buys 894,372 Shares of Align Technology Inc. (ALGN)

Gilder Gagnon Howe & Co. LLC increased its stake in shares of Align Technology Inc. (NASDAQ:ALGN) by 27,527.6% during the third quarter, Holdings Channel reports. The institutional investor owned 897,621 shares of the company’s stock after buying an additional 894,372 shares during the period. Align Technology accounts for approximately 1.4% of Gilder Gagnon Howe & Co. LLC’s portfolio, making the stock its 15th largest position. Gilder Gagnon Howe & Co. LLC’s holdings in Align Technology were worth $84,152,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC increased its stake in shares of Align Technology by 16.1% in the second quarter. GW&K Investment Management LLC now owns 205,003 shares of the company’s stock valued at $16,513,000 after buying an additional 28,418 shares in the last quarter. Navellier & Associates Inc bought a new stake in shares of Align Technology during the third quarter valued at approximately $5,306,000. Retirement Systems of Alabama increased its stake in shares of Align Technology by 2.7% in the second quarter. Retirement Systems of Alabama now owns 318,825 shares of the company’s stock valued at $25,681,000 after buying an additional 8,391 shares in the last quarter. Magee Thomson Investment Partners LLC increased its stake in shares of Align Technology by 37.1% in the third quarter. Magee Thomson Investment Partners LLC now owns 180,200 shares of the company’s stock valued at $16,894,000 after buying an additional 48,750 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Align Technology by 657.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 527,274 shares of the company’s stock valued at $49,431,000 after buying an additional 457,690 shares in the last quarter. 86.13% of the stock is owned by institutional investors and hedge funds.

Shares of Align Technology Inc. (NASDAQ:ALGN) opened at 94.42 on Thursday. The stock’s 50 day moving average price is $96.89 and its 200 day moving average price is $92.02. The company has a market cap of $7.52 billion, a P/E ratio of 40.35 and a beta of 1.36. Align Technology Inc. has a 1-year low of $57.51 and a 1-year high of $102.10.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. Align Technology had a return on equity of 21.09% and a net margin of 18.78%. The business had revenue of $278.60 million for the quarter, compared to analyst estimates of $271.61 million. During the same period last year, the company earned $0.34 EPS. The firm’s revenue was up 34.3% on a year-over-year basis. Equities research analysts forecast that Align Technology Inc. will post $2.41 earnings per share for the current year.

ALGN has been the subject of several analyst reports. Morgan Stanley set a $114.00 target price on Align Technology and gave the company a “buy” rating in a report on Wednesday, October 19th. Robert W. Baird lowered Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price target on the stock. in a research report on Monday, October 3rd. Stifel Nicolaus upped their price target on Align Technology from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 28th. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Jefferies Group reissued a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Align Technology in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Align Technology presently has an average rating of “Buy” and an average price target of $91.18.

In other Align Technology news, CFO David L. White sold 11,152 shares of Align Technology stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $95.53, for a total transaction of $1,065,350.56. Following the transaction, the chief financial officer now directly owns 9,473 shares in the company, valued at $904,955.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Warren S. Thaler sold 8,500 shares of Align Technology stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $95.57, for a total value of $812,345.00. Following the transaction, the director now owns 42,400 shares in the company, valued at $4,052,168. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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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