Verition Fund Management LLC Trims Stock Holdings in Zebra Technologies Co. (NASDAQ:ZBRA)

Verition Fund Management LLC decreased its position in Zebra Technologies Co. (NASDAQ:ZBRA) by 26.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,160 shares of the industrial products company’s stock after selling 2,922 shares during the period. Verition Fund Management LLC’s holdings in Zebra Technologies were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in Zebra Technologies by 1.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,449,609 shares of the industrial products company’s stock worth $447,828,000 after acquiring an additional 24,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Zebra Technologies by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 426,660 shares of the industrial products company’s stock worth $158,001,000 after acquiring an additional 18,922 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Zebra Technologies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 390,541 shares of the industrial products company’s stock valued at $120,650,000 after buying an additional 21,534 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zebra Technologies by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 346,939 shares of the industrial products company’s stock valued at $107,180,000 after buying an additional 7,117 shares during the last quarter. Finally, Fort Pitt Capital Group LLC raised its stake in shares of Zebra Technologies by 0.5% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 306,309 shares of the industrial products company’s stock valued at $94,628,000 after buying an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZBRA shares. Robert W. Baird lifted their price objective on Zebra Technologies from $380.00 to $415.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Zebra Technologies from $347.00 to $407.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price objective on Zebra Technologies from $394.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Zebra Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $305.00 to $400.00 in a research note on Monday. Finally, StockNews.com upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $393.82.

Zebra Technologies Trading Up 1.4 %

ZBRA opened at $411.94 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 0.96. The company’s 50 day simple moving average is $383.25 and its two-hundred day simple moving average is $346.13. Zebra Technologies Co. has a 1-year low of $232.29 and a 1-year high of $412.94. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 56.05 and a beta of 1.63.

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

Insider Activity

In other news, CFO Nathan Andrew Winters sold 1,837 shares of Zebra Technologies stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $381.73, for a total transaction of $701,238.01. Following the sale, the chief financial officer now owns 11,421 shares of the company’s stock, valued at approximately $4,359,738.33. The trade was a 13.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.04% of the company’s stock.

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.