Allspring Global Investments Holdings LLC Cuts Stock Position in Zebra Technologies Corporation (NASDAQ:ZBRA)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 49.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,426 shares of the industrial products company's stock after selling 104,224 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Zebra Technologies worth $30,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Zebra Technologies by 33.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,912 shares of the industrial products company's stock valued at $2,236,000 after purchasing an additional 1,964 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Zebra Technologies by 6.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,192 shares of the industrial products company's stock valued at $460,000 after acquiring an additional 72 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Zebra Technologies by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,473 shares of the industrial products company's stock worth $981,000 after acquiring an additional 66 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Zebra Technologies by 334.4% in the 4th quarter. Jones Financial Companies Lllp now owns 682 shares of the industrial products company's stock worth $263,000 after acquiring an additional 525 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Zebra Technologies by 6.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 21,321 shares of the industrial products company's stock worth $6,024,000 after acquiring an additional 1,267 shares during the period. 91.03% of the stock is owned by hedge funds and other institutional investors.

Zebra Technologies Trading Up 1.6%

Shares of ZBRA traded up $4.91 during trading hours on Wednesday, reaching $320.39. 428,787 shares of the company traded hands, compared to its average volume of 479,906. Zebra Technologies Corporation has a 12-month low of $205.73 and a 12-month high of $427.76. The stock's fifty day moving average price is $284.00 and its 200 day moving average price is $313.31. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of 30.31 and a beta of 1.75. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $4.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.60 by $0.42. Zebra Technologies had a return on equity of 18.77% and a net margin of 10.73%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $2.84 EPS. The business's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Zebra Technologies Corporation will post 13.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZBRA has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Zebra Technologies from $379.00 to $254.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen lowered Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Citigroup lowered their price objective on Zebra Technologies from $371.00 to $250.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird boosted their target price on shares of Zebra Technologies from $290.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Needham & Company LLC cut their target price on shares of Zebra Technologies from $395.00 to $325.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.20.

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.