Bayesian Capital Management LP Sells 7,200 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

Bayesian Capital Management LP lessened its holdings in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 67.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,527 shares of the industrial products company’s stock after selling 7,200 shares during the quarter. Bayesian Capital Management LP’s holdings in Zebra Technologies were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZBRA. Victory Capital Management Inc. raised its holdings in shares of Zebra Technologies by 663.2% during the fourth quarter. Victory Capital Management Inc. now owns 966,855 shares of the industrial products company’s stock valued at $264,270,000 after acquiring an additional 840,169 shares in the last quarter. Boston Partners raised its holdings in Zebra Technologies by 107.1% in the fourth quarter. Boston Partners now owns 1,010,774 shares of the industrial products company’s stock worth $276,222,000 after purchasing an additional 522,779 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Zebra Technologies by 44.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,373,792 shares of the industrial products company’s stock worth $414,117,000 after purchasing an additional 425,207 shares in the last quarter. Norges Bank bought a new position in Zebra Technologies in the fourth quarter worth $102,886,000. Finally, APG Asset Management US Inc. bought a new position in Zebra Technologies in the fourth quarter worth $67,476,000. Institutional investors own 91.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wolfe Research upgraded Zebra Technologies from a “peer perform” rating to an “outperform” rating and set a $337.00 price objective for the company in a report on Monday, April 8th. Truist Financial reiterated a “hold” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Zebra Technologies in a report on Wednesday, May 1st. BNP Paribas upgraded Zebra Technologies from an “underperform” rating to a “neutral” rating and raised their price target for the company from $258.00 to $305.00 in a report on Thursday, June 13th. Robert W. Baird raised their price target on Zebra Technologies from $312.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their price target on Zebra Technologies from $340.00 to $368.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $329.67.

Zebra Technologies Stock Performance

Shares of Zebra Technologies stock traded up $13.03 during trading hours on Wednesday, reaching $348.12. 1,217,358 shares of the stock traded hands, compared to its average volume of 294,310. The company has a 50 day moving average price of $315.09 and a 200 day moving average price of $293.91. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 69.07 and a beta of 1.66. Zebra Technologies Co. has a one year low of $194.59 and a one year high of $372.93. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.57.

Zebra Technologies (NASDAQ:ZBRA) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.70. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Zebra Technologies had a return on equity of 13.05% and a net margin of 5.99%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.24 EPS. On average, equities research analysts expect that Zebra Technologies Co. will post 10.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Zebra Technologies

In related news, insider Michael Cho sold 1,657 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $320.51, for a total transaction of $531,085.07. Following the completion of the transaction, the insider now directly owns 3,809 shares in the company, valued at approximately $1,220,822.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Zebra Technologies Company Profile

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.