Summit Global Investments Makes New $497,000 Investment in Zebra Technologies Co. (NASDAQ:ZBRA)

Summit Global Investments acquired a new stake in Zebra Technologies Co. (NASDAQ:ZBRA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,287 shares of the industrial products company’s stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ZBRA. Raymond James Financial Inc. purchased a new position in Zebra Technologies in the fourth quarter valued at $140,039,000. FMR LLC boosted its position in shares of Zebra Technologies by 2,423.5% during the 3rd quarter. FMR LLC now owns 275,949 shares of the industrial products company’s stock worth $102,189,000 after acquiring an additional 265,014 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Zebra Technologies by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 907,065 shares of the industrial products company’s stock valued at $335,905,000 after acquiring an additional 89,765 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Zebra Technologies by 111.0% during the 4th quarter. Allianz Asset Management GmbH now owns 164,224 shares of the industrial products company’s stock worth $63,427,000 after acquiring an additional 86,379 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Zebra Technologies during the fourth quarter worth approximately $28,423,000. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on ZBRA shares. Barclays dropped their price target on shares of Zebra Technologies from $407.00 to $326.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Morgan Stanley dropped their target price on shares of Zebra Technologies from $427.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird reduced their price target on shares of Zebra Technologies from $432.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. UBS Group decreased their price objective on shares of Zebra Technologies from $445.00 to $425.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Finally, Needham & Company LLC cut their target price on Zebra Technologies from $430.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zebra Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $381.42.

Insiders Place Their Bets

In other news, Director Anders Gustafsson purchased 500 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $311.00 per share, for a total transaction of $155,500.00. Following the completion of the purchase, the director now directly owns 202,176 shares in the company, valued at $62,876,736. The trade was a 0.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is owned by insiders.

Zebra Technologies Stock Up 2.6 %

ZBRA opened at $297.41 on Tuesday. Zebra Technologies Co. has a 52 week low of $266.75 and a 52 week high of $427.76. The business has a 50 day moving average price of $341.34 and a two-hundred day moving average price of $367.29. The company has a quick ratio of 1.03, a current ratio of 1.43 and a debt-to-equity ratio of 0.58. The company has a market cap of $15.28 billion, a PE ratio of 29.22 and a beta of 1.68.

Zebra Technologies (NASDAQ:ZBRA) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.62 EPS for the quarter, missing the consensus estimate of $3.85 by ($0.23). Zebra Technologies had a return on equity of 18.34% and a net margin of 10.60%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. As a group, research analysts anticipate that Zebra Technologies Co. will post 13.71 EPS for the current year.

Zebra Technologies 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.