Citigroup Inc. grew its holdings in Zebra Technologies Co. (NASDAQ:ZBRA – Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,172 shares of the industrial products company’s stock after purchasing an additional 4,190 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Zebra Technologies worth $13,411,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ZBRA. Macquarie Group Ltd. increased its holdings in Zebra Technologies by 131.5% in the fourth quarter. Macquarie Group Ltd. now owns 765,417 shares of the industrial products company’s stock valued at $196,261,000 after purchasing an additional 434,810 shares during the last quarter. Norges Bank acquired a new position in Zebra Technologies during the fourth quarter valued at approximately $108,922,000. Alyeska Investment Group L.P. bought a new stake in Zebra Technologies in the fourth quarter valued at approximately $63,393,000. Compass Capital Management Inc. acquired a new stake in Zebra Technologies in the first quarter worth $51,494,000. Finally, Millennium Management LLC boosted its position in shares of Zebra Technologies by 1,165.5% during the fourth quarter. Millennium Management LLC now owns 175,245 shares of the industrial products company’s stock worth $44,935,000 after purchasing an additional 161,397 shares in the last quarter. Institutional investors and hedge funds own 85.44% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on ZBRA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 price objective on shares of Zebra Technologies in a research note on Wednesday, August 2nd. Wolfe Research upgraded Zebra Technologies from an “underperform” rating to a “peer perform” rating in a report on Wednesday, August 2nd. Credit Suisse Group decreased their price objective on Zebra Technologies from $295.00 to $275.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Robert W. Baird cut their price target on shares of Zebra Technologies from $322.00 to $283.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. Finally, Morgan Stanley reduced their price target on shares of Zebra Technologies from $295.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zebra Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $316.86.
Zebra Technologies Stock Up 1.3 %
Zebra Technologies stock opened at $273.49 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 0.68. Zebra Technologies Co. has a 1-year low of $224.87 and a 1-year high of $351.74. The company has a fifty day simple moving average of $282.42 and a 200 day simple moving average of $286.60. The company has a market cap of $14.04 billion, a P/E ratio of 21.86 and a beta of 1.68.
Zebra Technologies (NASDAQ:ZBRA – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.33. Zebra Technologies had a return on equity of 27.44% and a net margin of 11.82%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $4.22 EPS. Zebra Technologies’s revenue for the quarter was down 17.3% compared to the same quarter last year. Research analysts anticipate that Zebra Technologies Co. will post 10.14 earnings per share for the current fiscal year.
Insider Transactions at Zebra Technologies
In other news, insider Anders Gustafsson bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $238.89 per share, with a total value of $238,890.00. Following the completion of the purchase, the insider now owns 195,609 shares of the company’s stock, valued at $46,729,034.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 3,000 shares of company stock worth $742,880 in the last 90 days. Corporate insiders own 1.06% 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, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including 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.
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