Congress Asset Management Co. MA Decreases Stock Holdings in Zebra Technologies Co. (NASDAQ:ZBRA)

Posted by on Mar 26th, 2023

Congress Asset Management Co. MA reduced its position in Zebra Technologies Co. (NASDAQ:ZBRA – Get Rating) by 92.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,249 shares of the industrial products company’s stock after selling 310,454 shares during the quarter. Congress Asset Management Co. MA’s holdings in Zebra Technologies were worth $6,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZBRA. Cambridge Investment Research Advisors Inc. raised its stake in Zebra Technologies by 13.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,815 shares of the industrial products company’s stock valued at $1,165,000 after purchasing an additional 341 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Zebra Technologies by 102.2% in the 1st quarter. Panagora Asset Management Inc. now owns 2,230 shares of the industrial products company’s stock valued at $923,000 after purchasing an additional 1,127 shares during the last quarter. Raymond James Trust N.A. raised its stake in Zebra Technologies by 45.0% in the 1st quarter. Raymond James Trust N.A. now owns 947 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 294 shares during the last quarter. Sei Investments Co. raised its stake in Zebra Technologies by 28.9% in the 1st quarter. Sei Investments Co. now owns 27,317 shares of the industrial products company’s stock valued at $11,251,000 after purchasing an additional 6,119 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Zebra Technologies by 97.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 300 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 148 shares during the last quarter. 85.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zebra Technologies

In related news, insider Michael Cho sold 1,600 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $292.38, for a total transaction of $467,808.00. Following the completion of the transaction, the insider now directly owns 3,168 shares in the company, valued at approximately $926,259.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZBRA. Stephens raised their target price on Zebra Technologies from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 21st. Needham & Company LLC raised their target price on Zebra Technologies from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Robert W. Baird raised their target price on Zebra Technologies from $300.00 to $315.00 in a research note on Tuesday, December 20th. Morgan Stanley raised their target price on Zebra Technologies from $225.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 13th. Finally, Wolfe Research downgraded Zebra Technologies from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $373.71.

Zebra Technologies Stock Performance

NASDAQ ZBRA opened at $288.73 on Friday. The stock has a market cap of $14.84 billion, a PE ratio of 23.04 and a beta of 1.66. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 0.66. Zebra Technologies Co. has a twelve month low of $224.87 and a twelve month high of $440.64. The stock has a fifty day simple moving average of $306.77 and a 200-day simple moving average of $279.93.

Zebra Technologies (NASDAQ:ZBRA – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.16. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Zebra Technologies had a return on equity of 31.19% and a net margin of 8.01%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.21 EPS. Equities analysts anticipate that Zebra Technologies Co. will post 15.9 earnings per share for the current year.

Zebra Technologies Company Profile

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Zebra Technologies Corp. engages in the design, manufacture, and sale of automatic identification and data capture products. Its products include mobile computers, barcode scanners, radio frequency identification devices readers, specialty printers for barcode labeling and personal identification, real-time location systems, accessories and supplies, such as self-adhesive labels and other consumables, and software utilities and applications.

Further Reading

Institutional Ownership by Quarter for Zebra Technologies (NASDAQ:ZBRA)

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