Quarry LP Sells 80 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

Quarry LP reduced its stake in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 41.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113 shares of the industrial products company’s stock after selling 80 shares during the period. Quarry LP’s holdings in Zebra Technologies were worth $42,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in Zebra Technologies during the 3rd quarter worth approximately $2,113,000. IHT Wealth Management LLC increased its holdings in Zebra Technologies by 47.9% during the 3rd quarter. IHT Wealth Management LLC now owns 1,075 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 348 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in Zebra Technologies by 44.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 1,632 shares of the industrial products company’s stock worth $604,000 after purchasing an additional 500 shares in the last quarter. HighTower Advisors LLC increased its holdings in Zebra Technologies by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,923 shares of the industrial products company’s stock worth $2,190,000 after purchasing an additional 245 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in Zebra Technologies by 12.6% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,496 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 167 shares in the last quarter. 91.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ZBRA. Morgan Stanley upgraded Zebra Technologies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $305.00 to $400.00 in a research note on Monday, December 2nd. Robert W. Baird boosted their target price on Zebra Technologies from $380.00 to $415.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on Zebra Technologies from $380.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Truist Financial restated a “hold” rating and issued a $383.00 target price (up previously from $379.00) on shares of Zebra Technologies in a research note on Wednesday, October 30th. Finally, UBS Group boosted their target price on Zebra Technologies from $390.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.82.

Insiders Place Their Bets

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $381.73, for a total value of $701,238.01. Following the transaction, the chief financial officer now owns 11,421 shares of the company’s stock, valued at approximately $4,359,738.33. This represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.

Zebra Technologies Trading Down 2.3 %

NASDAQ:ZBRA opened at $401.78 on Wednesday. The company has a market cap of $20.72 billion, a P/E ratio of 54.66 and a beta of 1.64. The stock’s fifty day moving average price is $386.30 and its two-hundred day moving average price is $348.62. Zebra Technologies Co. has a 1 year low of $233.95 and a 1 year high of $413.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 0.96.

Zebra Technologies (NASDAQ:ZBRA) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.57. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.22 billion. Zebra Technologies had a return on equity of 15.56% and a net margin of 8.20%. The business’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, analysts expect that Zebra Technologies Co. will post 12.4 EPS for the current year.

About Zebra Technologies

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.