Sessa Capital IM L.P. Takes Position in Zebra Technologies Co. (NASDAQ:ZBRA)

Sessa Capital IM L.P. purchased a new position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 55,400 shares of the industrial products company’s stock, valued at approximately $17,115,000. Zebra Technologies accounts for approximately 0.5% of Sessa Capital IM L.P.’s portfolio, making the stock its 19th biggest holding. Sessa Capital IM L.P. owned approximately 0.11% of Zebra Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Maverick Capital Ltd. grew its position in shares of Zebra Technologies by 5.9% during the 2nd quarter. Maverick Capital Ltd. now owns 5,021 shares of the industrial products company’s stock valued at $1,551,000 after acquiring an additional 280 shares during the period. MBB Public Markets I LLC lifted its position in shares of Zebra Technologies by 368.9% during the 2nd quarter. MBB Public Markets I LLC now owns 3,470 shares of the industrial products company’s stock valued at $1,072,000 after buying an additional 2,730 shares during the last quarter. Dark Forest Capital Management LP raised its stake in Zebra Technologies by 55.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 3,370 shares of the industrial products company’s stock valued at $1,041,000 after acquiring an additional 1,196 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in Zebra Technologies during the second quarter valued at about $1,281,000. Finally, APG Asset Management US Inc. lifted its position in shares of Zebra Technologies by 18.8% during the second quarter. APG Asset Management US Inc. now owns 89,157 shares of the industrial products company’s stock worth $27,301,000 after acquiring an additional 14,102 shares in the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZBRA. Vertical Research started coverage on Zebra Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $375.00 price target for the company. Truist Financial reissued a “hold” rating and issued a $345.00 price target (up from $315.00) on shares of Zebra Technologies in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of Zebra Technologies from $355.00 to $375.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Needham & Company LLC raised their price target on Zebra Technologies from $370.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Stephens lifted their price target on Zebra Technologies from $380.00 to $410.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zebra Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $349.64.

Zebra Technologies Stock Up 1.7 %

Shares of NASDAQ:ZBRA opened at $371.24 on Friday. Zebra Technologies Co. has a 1 year low of $194.59 and a 1 year high of $375.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.28 and a quick ratio of 0.84. The stock’s 50-day moving average is $337.91 and its 200 day moving average is $315.92. The company has a market cap of $19.15 billion, a PE ratio of 73.66 and a beta of 1.65.

Zebra Technologies (NASDAQ:ZBRA) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.70. Zebra Technologies had a return on equity of 11.77% and a net margin of 5.28%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $3.24 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Zebra Technologies Co. will post 11.12 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey F. Schmitz sold 1,000 shares of Zebra Technologies stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $341.69, for a total transaction of $341,690.00. Following the sale, the insider now owns 9,694 shares of the company’s stock, valued at approximately $3,312,342.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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 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.