Norris Perne & French LLP, based in Michigan, has decreased its holdings in Zebra Technologies Corporation (NASDAQ: ZBRA) by 5.7% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the institutional investor now owns 57,378 shares of the industrial products company after selling 3,442 shares during this period. As of the latest report, Norris Perne & French LLP’s stake in Zebra Technologies is valued at approximately $17,050,000.
Other institutional investors have also adjusted their positions in Zebra Technologies. Notably, AllianceBernstein L.P. significantly increased its stake by 1,310.3% in the second quarter, now owning 779,680 shares worth $240,422,000 following the acquisition of an additional 724,396 shares. Similarly, Norges Bank established a new position in the company valued at $166,750,000, while Alyeska Investment Group L.P. invested $99,995,000 in the first quarter. Balyasny Asset Management L.P. and AQR Capital Management LLC also grew their stakes substantially during the second quarter, with increases of 469.4% and 119.5%, respectively.
Zebra Technologies Financial Overview
Zebra Technologies’ stock opened at $246.27 on Monday, with a market capitalization of $12.48 billion. The company currently has a price-to-earnings (P/E) ratio of 24.83 and a beta of 1.67. Its fifty-day moving average price stands at $260.98, while the 200-day moving average is $294.50. Financial metrics indicate a debt-to-equity ratio of 0.56, with a quick ratio of 1.19 and a current ratio of 1.61. The stock has experienced a 52-week low of $205.73 and a high of $427.76.
In related developments, Director Satish Dhanasekaran purchased 1,000 shares of Zebra Technologies on November 18, 2023, at an average price of $233.12 per share, totaling $233,120. Following this transaction, Dhanasekaran’s ownership increased by 42.44%, and he now holds 3,356 shares valued at $782,350.72. Insiders currently own 0.84% of the company’s stock.
Analysts Adjust Price Targets
Recent commentary from analysts has led to adjustments in Zebra Technologies’ stock ratings. Zacks Research downgraded the shares from a “hold” rating to a “strong sell” on November 11, 2023. Truist Financial lowered its price objective from $331.00 to $291.00 while maintaining a “hold” rating. KeyCorp reiterated a “sector weight” rating, and Barclays adjusted its price target from $375.00 to $360.00, also maintaining an “overweight” rating. Weiss Ratings reissued a “hold (c)” rating on the stock.
Overall, one analyst has rated Zebra Technologies with a Strong Buy, while five have given it a Buy rating, and five have issued a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $349.00.
Zebra Technologies Corporation is a global leader in providing marking, tracking, and computer printing solutions. Its products are aimed at enhancing operational efficiency across various sectors including retail, healthcare, and logistics. The company offers a diverse portfolio that includes barcode and RFID printers, mobile computing devices, and related supplies.
For those interested in tracking further developments regarding Zebra Technologies, insights into hedge fund activities and insider trading can be found through dedicated financial reporting platforms.
