Norges Bank Acquires New Position in Zebra Technologies Co. (NASDAQ:ZBRA)

Norges Bank bought a new position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 521,516 shares of the industrial products company’s stock, valued at approximately $201,420,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ZBRA. Point72 DIFC Ltd acquired a new position in shares of Zebra Technologies in the 3rd quarter valued at $2,113,000. LVM Capital Management Ltd. MI acquired a new position in Zebra Technologies in the fourth quarter valued at about $643,000. Jones Financial Companies Lllp boosted its stake in Zebra Technologies by 334.4% during the fourth quarter. Jones Financial Companies Lllp now owns 682 shares of the industrial products company’s stock worth $263,000 after buying an additional 525 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Zebra Technologies during the fourth quarter valued at about $695,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Zebra Technologies by 47.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 210,650 shares of the industrial products company’s stock valued at $80,857,000 after acquiring an additional 67,742 shares during the period. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZBRA has been the subject of a number of research analyst reports. UBS Group lowered 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 report on Tuesday, February 18th. Barclays dropped their price objective on Zebra Technologies from $407.00 to $326.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Robert W. Baird cut their price objective on Zebra Technologies from $432.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on Zebra Technologies from $427.00 to $390.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Truist Financial cut their price target on shares of Zebra Technologies from $409.00 to $379.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.42.

Zebra Technologies Stock Performance

Shares of Zebra Technologies stock opened at $280.79 on Monday. The business has a 50-day simple moving average of $332.18 and a 200-day simple moving average of $366.05. The company has a market cap of $14.43 billion, a PE ratio of 27.58 and a beta of 1.68. Zebra Technologies Co. has a one year low of $266.75 and a one year high of $427.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.43.

Zebra Technologies (NASDAQ:ZBRA) last posted 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 firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. On average, equities research analysts forecast that Zebra Technologies Co. will post 13.71 EPS for the current fiscal year.

Insider Activity at Zebra Technologies

In other Zebra Technologies news, Director Anders Gustafsson bought 500 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average price of $311.00 per share, with a total value of $155,500.00. Following the transaction, the director now owns 202,176 shares of the company’s stock, valued at approximately $62,876,736. The trade was a 0.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

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.